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| 16 August, 2018

Saudi Jarir opens showroom with $7.73mln investments

The showroom’s area is 4,200 square metres, while its financial impact will appear in the third quarter of 2018

Businessmen in a meeting. Image for illustrative purposes.

Businessmen in a meeting. Image for illustrative purposes.

Getty Images/ Image Source

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.

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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

Source: Mubasher

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