Jarir Marketing Co. announces its Estimated Financial Results for the Period Ending on 2021-06-30 ( Six Months )
| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
| Sales/Revenue | 2,015.3 | 2,373.9 | -15.105 | 2,530.4 | -20.356 |
| Gross Profit (Loss) | 262 | 303.7 | -13.73 | 337.6 | -22.393 |
| Operational Profit (Loss) | 205.6 | 227 | -9.427 | 285.5 | -27.985 |
| Net Profit (Loss) after Zakat and Tax | 189.2 | 208.4 | -9.213 | 267.6 | -29.297 |
| Total Comprehensive Income | 189.4 | 206 | -8.058 | 267.4 | -29.169 |
All figures are in (Millions) Saudi Arabia, Riyals
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,710.6 | 1,634 | 4.687 |
| Profit (Loss) per Share | 2.23 | 2.1 |
All figures are in (Millions) Saudi Arabia, Riyals
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
| Sales/Revenue | 4,545.7 | 4,714.1 | -3.572 |
| Gross Profit (Loss) | 599.6 | 631.2 | -5.006 |
| Operational Profit (Loss) | 491.1 | 499.3 | -1.642 |
| Net Profit (Loss) after Zakat and Tax | 456.9 | 460.1 | -0.695 |
| Total Comprehensive Income | 456.8 | 459 | -0.479 |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,648 | 1,636.1 | 0.727 |
| Profit (Loss) per Share | 3.81 | 3.83 |
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 decrease - Although the performance of retail outlets sales witnessed a slight increase, online sales decreased significantly compared to the same quarter of the previous year, which witnessed an exceptional performance of online sales during the lockdown and the precautionary measures for the pandemic (specially computers section due to remote learning and work from home), and which was also supported by exceptional sales at the end of the same quarter of the previous year right before the increase in the VAT rate. Despite the decrease in sales by 15.1 %, the net profit decreased by 9.2%, and this was due to the decrease in general and administrative expenses which included in the same period of the previous year the company's support for the Health Endowment Fund at the Ministry of Health for an amount of 20 million riyals, and was also due to the decrease in the selling and marketing expenses and 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 decrease The decline in sales, especially the smart phones and computer sections. The performance in this quarter compared to the previous quarter (the first quarter) was affected by the sales slowdown during the holy month of Ramadan. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The decrease in net profit for current period compared to the similar period of the previous year is attributed to decreased sales in the current quarter for the reasons mentioned in the performance of the current quarter compared to the same quarter of the previous year. Despite the decrease in sales by 3.6% compared to the same period of the previous year, the decrease in net profit was only 0.7%, and this was due to the decrease in general and administrative expenses, which included in the same period of the previous year the company’s contribution to the Ministry of Health’s Health Endowment Fund for an amount of 20 million Riyals and the company's contribution to support Atta Digital campaign sponsored by the Ministry of Communications and Information Technology for around 5 million Riyals, and was also due to the decrease in the selling and marketing expenses and the non-operating expenses and the increase in the 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 | These estimated financial results for the period ended June 30, 2021 are prepared by the management of the Company and have not yet been reviewed by the external auditor. |
| Reclassification of Comparison Items | None |
| Additional Information | Three showrooms were opened during the period on 7/3/2021, 11/4/2021 and 9/5/2021 and a showroom was closed on 1/2/2021 of which a replacement showroom was opened end of the prior year. |