Jarir Marketing achieved a quarterly profit for the first quarter of this year amounting to 233.7 million riyals, compared to profits of about 219.1 million riyals for the same period in 2018, a growth of 6.7% .

According to the company’s statement to the Saudi market today, operating profit increased by 15% in the first quarter of this year, to reach 253.9 million riyals, compared to the profits for the corresponding period of the year. 2018 worth 220.7 million riyals.

The company said that the increase in profit for the period is due to the increase in sales of most of the retail departments, especially the electronics division, supported by sales of smart phones as well as the computers division.

The company explained in the statement that the increase in the number of exhibitions from 52 to 56 exhibits contributed in part to the increase in retail sales during the comparison periods.

Despite the increase in the estimated sales by 18%, the increase in the estimated profit was 6.7%, due to the increase in selling and marketing expenses and expenses, as well as an increase in general and administrative expenses, non-operating expenses and a decrease Other income.

Jarir’s earnings increased 10.6% in the past year, to 960 million riyals, compared to 867.7 million riyals in 2017.

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