Riyadh – Mubasher: Jarir Marketing Company reported a 5.9% year-on-year increase in profits for the third quarter of 2019, registering SAR 305 million.
Total revenues jumped by 16.5% to SAR 2.25 billion in Q3-19, compared to SAR 1.93 billion in Q3-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Wednesday.
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.
Moreover, the increased number of showrooms from 53 to 59 partly contributed to increased retail sales.
During the period between January and September, the net profits of Jarir Marketing reached SAR 707.8 million, 5.6% higher than SAR 669.7 million in the same period a year ago.
On a yearly basis, revenues advanced by 15.42% to SAR 6.03 billion during the nine-month period ended September.
By the end of September, profit per share recorded SAR 5.9, compared to SAR 5.58 in the same period last year.
