Saudi retailer Jarir posts 20% rise in Q1 profit

Saudi's largest electronic, stationary retailer sees higher sales of laptops, smartphones

Jarir Marketing Co, Saudi Arabia’s largest stationery and electronic products retailer, said on Saturday its first-quarter profit increased 20 percent.

Net income rose to SR164.2m from SR136.8m in the year earlier period on higher sales of laptops and smart phones, the company said in a statement to the Saudi bourse.

The net profit figure was also an increase of 31.6 percent compared to the fourth quarter of 2011.

"The reason for the increase in the estimated net profit for the first quarter compared to the same period last year was due to increase in sales of all kinds of products specially electronic items like laptops, tablet PCs and smartphones," the company statement said.

The increase of the previous quarter was also driven by an increase in the sale of office and school supplies ahead of the Back To School season in Saudi Arabia.

The company added that turnover also rose as it added new showrooms to take its total to 30.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
How Ramadan has earned prime spot on Gulf fashion calendar

How Ramadan has earned prime spot on Gulf fashion calendar

From Dolce & Gabbana to Michael Kors, major brands are catering...

Focus: 'Amazon did not come to the region for Souq.com alone'

Focus: 'Amazon did not come to the region for Souq.com alone'

E-commerce experts say retailers will have to up their game following...

5
Saudis tighten their belts for Eid in age of austerity

Saudis tighten their belts for Eid in age of austerity

Gov't cuts, which began late in 2015, are now rippling through...

Most Discussed
sponsoredTracking