Riyadh – Jarir Market Company has announced inaugurating a showroom in Khamees Mushait city with total investment of SAR 29 million ($7.73 million) on Wednesday.
This is the 44th showroom of Jarir in the kingdom, and the 53rd of the firm in the GCC country and abroad, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.
The showroom’s area is 4,200 square metres, while its financial impact will appear in the third quarter of 2018.
Rate of Saudi employees in this showroom reached 69%, the Saudi company noted.
Jarir Market Company last reported a 10.01% growth in net profits to SAR 162.2 million during Q2-18, compared to SAR 147.8 million in Q2-17.
The stock remained unchanged to close Wednesday’s trading session at SAR 181.6