Jarir’s Q1 profits grow 6% YoY

Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) achieved a net profit after Zakat and tax of SAR 267.6 million during the first quarter (Q1) of 2021, up 6.31% from SAR 251.7 million in Q1-20.

Profit per share stood at SAR 2.23 in Q1-21, compared with SAR 2.1 in the same quarter in 2020, according to the interim income statements.

Sales grew 8.12% to SAR 2.53 billion in the first three months of 2021 compared to SAR 2.34 billion in Q1-20. The annual increase was attributed to higher sales in retail sections, particularly smartphones and computers.

Quarter-on-quarter (QoQ), Jarir’s net profits declined 6.98% from SAR 287.7 million in the fourth quarter (Q4) of 2020.

Sales also decreased 0.91% from SAR 2.55 billion.

During 2020, Jarir achieved net profits worth SAR 1 billion, compared with SAR 984.7 million in 2019.

 

Mubasher Contribution Time: 09-May-2021 10:54 (GMT)
Mubasher Last Update Time: 09-May-2021 10:54 (GMT)