Riyadh – Mubasher: Jarir Marketing Company reported its estimated financial results for the third quarter of 2019.
Net profits after zakat and tax increased by 5.9% to SAR 305 million in Q3-19, compared to SAR 288 million in Q3-18, according to the firm’s filing to the Saudi Stock Exchange (Tadawul) on Thursday.
The company generated SAR 2.25 billion in revenues during the three-month period ended September, up 16.5% from SAR 1.93 billion in the same period of the previous year.
The rise in profits was attributed to the increase in sales of most of the sections particularly electronics section driven by smartphones sales, and computers section, in addition to the increased number of showrooms from 53 to 59 partly contributed to increased retail sales.
For the first nine months of 2019, Jarir Marketing’s jumped by 5.6% year-on-year to SAR 707.8 million.
Total revenues levelled up by 15.42% to SAR 6 billion by the end of September, versus SAR 5.22 billion in the corresponding period the year before.
