Smartphones, other sales raise Jarir 4Q net profit 10.5% to SAR137.9m

Monday, Jan 07, 2013

RIYADH (Zawya Dow Jones)--Books, stationery and school supply firm Jarir Marketing Co. (4190.SA) said Monday that sales of smartphones helped drive a 10.5% increase in fourth-quarter net profit compared to the same period a year earlier, to 137.9 million Saudi riyals ($36.8 million).

Overall sales in all departments were up 11.7% in 2012 compared to 2011, Jarir said, in a statement posted on the website of the Saudi stock exchange. Fourth-quarter sales in 2012 hit SAR1.182 billion, up from SAR1.024 billion in the fourth quarter of 2011, Jarir said.

Earnings per share rose to SAR9.50 in 2012, compared to SAR8.55 a year earlier, the company said.

Jarir shares are trading -0.9% at SAR159 Monday.

Write to Ellen Knickmeyer at ellen.knickmeyer@dowjones.com.

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07-01-13 0907GMT