Jarir Marketing Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)
| ELEMENT | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CHANGE CURRENT | PREVIOUS QUARTER | % CHANGE PREVIOUS |
| Net profit (loss) | 246.5 | 217.9 | 13.13 | 147.8 | 66.78 |
| Gross profit (loss) | 290.7 | 252.9 | 14.95 | 192.7 | 50.86 |
| Operational profit (loss) | 242.4 | 215 | 12.74 | 133.2 | 81.98 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| ELEMENT | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | % CHANGE |
| Net profit (loss) | 615.7 | 519.4 | 18.54 |
| Gross profit (loss) | 730.8 | 630.5 | 15.91 |
| Operational profit (loss) | 588.6 | 497.9 | 18.22 |
| Earning or loss per share, Riyals | 6.84 | 5.77 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| ELEMENT | EXPLAINATION |
| Reasons of increase (decrease) for quarter compared with same quarter last year | The increase in net profit is due to - Increase in sales of most of sections which is partly due to increased number of showrooms from 44 to 49. - Relative improvement of profit margins of some sections which is partly due to the continuing improvement in products management. - Rebates received from vendors as a result of achievement of sales targets. |
| Reasons of increase (decrease) for period compared with same period last year | The increase in net profit is due to - Increase in sales of retail electronics section due to increased sales of smart phones which is partly due to increased market share. - Increase in wholesales mainly due to the school second term season as compared to the same period last year which missed part of season as it fell in the fourth quarter of the preceding year due to change in school calendar. - Decrease in non operating expenses. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The increase in net profit is due to - Increase in sales of retail sections except electronics and video games. - Increase in profit margins as a result of the change in sales mix. - Increase in wholesales due to the back to school season. - Decrease in selling & distribution expenses. - Decrease in general & administration expenses. |
| Reclassifications in quarterly financial results | - Items of the presented periods of last year have been derecognized, recognized, remeasured and reclassified to comply with the current accounting policies consistent with IFRS. |
| Other notes | - The turnover for the quarter ended 30th September 2017 amounted to SR 1,651.8 m an increase of 8.6% compared to the same quarter last year SR 1,520.9 m. - The turnover for the period ended 30th September 2017 amounted to SR 4,941.5 m an increase of 14.1% compared to the same period last year SR 4,329.1 m. - Total comprehensive income for the quarter ended 30th September 2017 amounted to SR 246.5 m an increase of 13.1% compared to the same quarter last year SR 217.9 m and an increase of 66.8% compared to the previous quarter SR 147.8 m. - Total comprehensive income for the period ended 30th September 2017 amounted to SR 615.7 m an increase of 18.5% compared to the same period last year SR 519.4 m. - The total shareholder's equity (no minority interest) as of 30th September 2017 amounted to SR 1,593.8 m an increase of 2.7% as compared to SR 1,552.0 m as of 30th September 2016. - The interim condensed consolidated financial statements for the quarter and period ended 30 September 2017 are interim financial statements for part of year covered by the first IFRS annual financial statements. - Four new showrooms were opened during the period of which two were opened in this quarter on 25/8/2017 and 12/9/2017. |