08 April 2013
Growing sales of smartphones and tablet PCs have helped Jarir Marketing Company (JMC) to post higher quarterly profits.
Jarir announced its estimated financial results for the first quarter of 2013, achieving a net profit of SR 180.8 million.
This is an increase of 10.1 percent compared to the same period last year of SR 164.2 million and an increase of 31.1 percent compared to Q4 2012 of SR 137.9 million, according to Tadawul website.
Jarir's total estimated gross profit for Q1 2013 amounted to SR 210.7 million, an increase of 10.8 percent compared to the same period last year of SR 190.2 million.
The estimated operating profit for Q1 amounted to SR 179.7 million, an increase of 11.8 percent compared to the same period last year of SR 160.8 million.
The estimated earning per share (EPS) for Q1 was SR 3.01 compared to SR 2.74 for the same period last year.
The reason for the increase in the estimated net profit for Q1 compared to the same period last year was due to increase in sales of electronic products, especially smartphones and tablet PCs, in addition to increase in the number of showrooms from 30 to 32.
The reason for the increase in the estimated net profit for Q1 compared to Q4 2012 is primarily due to increase in the sales of all sections, especially school supplies as back-to-school season for the second term came in the first quarter of this year.
The estimated turnover for Q1 amounted to SR 1,330 million, an increase of 11.2 percent compared to the same period last year of SR 1,196.2 million.
Growing sales of smartphones and tablet PCs have helped Jarir Marketing Company (JMC) to post higher quarterly profits.
Jarir announced its estimated financial results for the first quarter of 2013, achieving a net profit of SR 180.8 million.
This is an increase of 10.1 percent compared to the same period last year of SR 164.2 million and an increase of 31.1 percent compared to Q4 2012 of SR 137.9 million, according to Tadawul website.
Jarir's total estimated gross profit for Q1 2013 amounted to SR 210.7 million, an increase of 10.8 percent compared to the same period last year of SR 190.2 million.
The estimated operating profit for Q1 amounted to SR 179.7 million, an increase of 11.8 percent compared to the same period last year of SR 160.8 million.
The estimated earning per share (EPS) for Q1 was SR 3.01 compared to SR 2.74 for the same period last year.
The reason for the increase in the estimated net profit for Q1 compared to the same period last year was due to increase in sales of electronic products, especially smartphones and tablet PCs, in addition to increase in the number of showrooms from 30 to 32.
The reason for the increase in the estimated net profit for Q1 compared to Q4 2012 is primarily due to increase in the sales of all sections, especially school supplies as back-to-school season for the second term came in the first quarter of this year.
The estimated turnover for Q1 amounted to SR 1,330 million, an increase of 11.2 percent compared to the same period last year of SR 1,196.2 million.
© Arab News 2013
