Jarir Marketing Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

A4190 JARIR2.6 (1.3 %)
1443/03/29 Thu Nov 4, 2021 08:06:18

Jarir Marketing Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

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Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	2,224.5	2,037.9	9.156	2,015.3	10.38
Gross Profit (Loss)	344.1	334.5	2.869	262	31.335
Operational Profit (Loss)	292.6	274.9	6.438	205.6	42.315
Net Profit (Loss) after Zakat and Tax	272.5	255.2	6.778	189.2	44.027
Total Comprehensive Income	272.1	256.4	6.123	189.4	43.664
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	6,770.2	6,752	0.269
Gross Profit (Loss)	943.7	965.7	-2.278
Operational Profit (Loss)	783.7	774.2	1.227
Net Profit (Loss) after Zakat and Tax	729.4	715.3	1.971
Total Comprehensive Income	729	715.3	1.915
Total Share Holders Equity (after Deducting Minority Equity)	1,752.2	1,688.4	3.778
Profit (Loss) per Share	6.08	5.96
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Reasons for increase - Increase in sales of certain sections specially the school and office supplies and smartphones, as a result of the partial back to school season during this quarter and the launch of the new iPhone, compared to the same quarter of last year which did not include either of these two events. increase is also attributed to the increase in the other income.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	Reasons for increase - Increase in sales of certain sections specially the school and office supplies, computers and related supplies, sales performance was positively impacted by the partial back to school season during this quarter compared to the previous quarter of the current year. Despite the sales increase of 10.4%, the net profit increased by 44% due to increased profit margins resulting from the favorable change in sales mix and due to the increase in the other income.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Reasons for increase Despite the slight increase in sales during the 9 month period compared to the same period of the last year, such increase was insufficient to cover the increase in direct operating costs included in the calculation of gross profit, which decreased by 2.3%. Notwithstanding the foregoing, the net profit increased by 2% due to the decrease in general and administrative expenses, which included in the same period of the last year the voluntary contributions amounting to 25 million Riyals made by the company to support government initiatives. The increase in net profit is also attributed the decrease in selling and marketing expenses and financing cost, and the increase in other income.
Statement of the type of external auditor's report	Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	None
Reclassification of Comparison Items	None
Additional Information	Four showrooms were opened during the period on 7/3/2021, 11/4/2021, 9/5/2021 and 8/7/2021 and a showroom closed on 1/2/2021 of which a replacement showroom was opened end of the prior year.

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