Riyadh-Mubasher: Saudi Arabia's Jarir Marketing Co. (JMC) recorded net earnings of SAR 208 million during the fourth quarter of 2015, a fall of 4.7% from SAR 206 million in the year-ago period.
Full-year net earnings increased 11% year-on-year from SAR 745 million to SAR 828.5 million.
The retailer attributed the profit decline mainly to increase in sales of the sections involving high profit margins, with shrinkage of sales of electronics, computer and computer supplies.
The profit growth was spurred by strong sales of most sections, mainly smart phones, the company added.
