RIYADH: Jarir Marketing Company (JMC) has announced its interim consolidated financial results for the period ended March 31, 2011. It achieved a net profit of SR136.8 million, an increase of 15.44 percent compared to the same period last year (SR118,5 million) and an increase of 31.92 percent compared to Q4 2010 (SR103.7 million).
The total gross profit for Q1 2011 amounted to SR162.7 million, an increase of 13.78 percent compared to the same period last year (SR143 million).
The operating profit for Q1 2011 amounted to SR135.5 million, an increase of 15.32 percent compared to the same period last year (SR117.5 million).
The earnings per share (EPS) for Q1 2011, were SR3.42 compared to SR2.96 for the same period last year.
The reason for the increase in the net profit for the first quarter of the financial year (FY11) compared to the same period last year is due to increase in sales of all kinds of products specially the electronic items like laptops, tablet PCs and smart phones.
Also, the increase of the net profit for Q1 2011 compared to Q4 2010 is primarily due to an increase in sales, in addition to increase in office and school supplies.
The turnover for Q1 2011 amounted to SR 945,6 million, an increase of 18.87 percent compared to the same period last year (SR795,5 million).
The reason for the increase in the turnover for Q1 2011 compared to the same period last year is due to increase in the turnover of electronic items like laptops, tablet PCs and smart phones and the school season.
© Arab News 2011
