The profits of Jarir Marketing Company decreased by 1.1% in 2021, to reach after zakat and tax 991.9 million riyals, compared to 1.003 billion riyals in 2020.
And according to Arabiya Net, Jarir Marketing said in a statement that the decline in profits is due to the decrease in sales of some departments, especially the computer, accessories and video games departments, where the sales performance was affected by the lack of supplies.
She added that despite the decrease in sales by only 2.3%, the total profit decreased by 7.5%, and sales were achieved through a greater number of exhibitions compared to 2020, which means an increase in the total cost of operating the exhibitions at a time when sales decreased by 2.3%. /p>
She explained that despite the decrease in the gross profit by 7.5%, the net profit decreased only by 1.1% due to the increase in other revenues, which included, a capital gain of 38 million riyals from the sale of a plot of land, as well as a decrease in general and administrative expenses, which included in the year 2020 the company’s support for government initiatives by about 25 million riyals, in addition to a decrease in the cost of financing, and a decrease in zakat expense.
According to Al Arabiya.net’s calculations, Jarir Marketing achieved a net profit of about 262.5 million riyals in the fourth quarter of 2021, compared to 288 million riyals, a net profit in the same quarter of 2020, a decrease of 8.76%.
