Jarir’s 3rd Quarter estimated net profit increases 5.1 %

07/10/2012 15:00 AST

Jarir Marketing Company (JARIR) announced its estimated financial results for the period ending 30th September 2012.

The Company with an increase of 5.1 % achieved estimated net profit of SR 160.7 million for the 3rd Quarter ended 30th September 2012 against the SR 152.9 million of the same period last year. And compared to the SR 107million of 2nd quarter 2012, the company recorded an increase of 50.2 %.

The estimated net profit of the company for the nine months ended 30th September 2012 amounted to SR 431.9 million against the SR 388.2 million of the corresponding period of last year, surging 11.3 %.

The estimated gross profit for the third quarter ended 30th September 2012 amounted to SR 193.4 million compared to the SR 183.9 million of the same period last year, an increase of 5.2 %. While, the estimated gross profit during the nine months period rose 9.8 % to SR 520.9 m versus SR 474.5 million of the same period last year.

The estimated operating profit for the third quarter ended 30th September 2012 reached to SR 160 million with an increase of 6 % compared to the same period last year (SR 150.9 million).

The estimated operating profit during the nine months is SR 427 million with an increase of 11.3 % compared to the same period last year (SR 383.6 million).

The estimated Earnings per share (EPS) for the nine months ended 30th September 2012 increased to SR 7.20 compared to the SR 6.47 for the same period last year ( Earning per Share for last year has been modified after the capital increase from 40 to 60 million shares , which has been approved at the end of 2011 ) .

The estimated turnover for the third quarter ended 30 September 2012 amounted to SR 1,189.8 million, compared to the same period last year (SR 1,208.9 million), a drop of 1.6 %. While, the estimated turnover for the nine months amounted to SR 3,451.9 million as compared to the SR 3,122.8 million of same period last year, rose 10.5 %.

The company, on the tadawul site said that the reason for the increase in the estimated net profits is due to the growing turnover of all Jarir sections, in addition to opening two new showrooms in Yanbu and Riyadh as well as the increase of Jarir showrooms to 32 inside and outside Saudi Arabia and due to the seasonal nature of the sales.

Jarir Marketing Company (JARIR) is a Saudi joint stock company. The activities of the company include retail and wholesale trading in office and school supplies, Children toys, educational aids, office furniture, engineering equipment, computers and computer system, sports and scout equipments, paper.

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