Riyadh – Mubasher: Saudi Arabia-based Jarir Marketing Co. has inaugurated a new showroom with total investments of SAR 156 million.
Located in Khobar city, the new entity marks the 46th of Jarir in the kingdom and its 55th of total showrooms in Saudi Arabia and abroad, according to a statement to the Saudi Stock Exchange (Tadawul).
Spanning 3,780 square metres, the new facility has a Saudisation rate of 68%.
The company further noted that the showroom’s financial impact will appear in the fourth-quarter financial results of 2018.
Jarir Marketing Co. last reported SAR 288 million in net profit after calculating zakat and tax during the third quarter of 2018, up 16.84% year-on-year from SAR 246.5 million.
From January to September, the Tadawul-listed firm logged SAR 669.7 million in net profit after calculating zakat and tax, registering an 8.77% increase from SAR 615.7 million in the same period of 2017.
By 11:14 am Saudi time, Jarir's stock went up 1.72% to reach SAR 153.60.
