Jarir Marketing Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )
15-May-2022
| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
| Sales/Revenue | 2,286.9 | 2,530.4 | -9.622 | 2,318.1 | -1.345 |
| Gross Profit (Loss) | 325.1 | 337.6 | -3.702 | 285.6 | 13.83 |
| Operational Profit (Loss) | 267.9 | 285.5 | -6.164 | 277.7 | -3.528 |
| Net Profit (Loss) after Zakat and Tax | 251.3 | 267.6 | -6.091 | 262.5 | -4.266 |
| Total Comprehensive Income | 240.6 | 267.4 | -10.022 | 262.9 | -8.482 |
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) | 1,775.7 | 1,710.6 | 3.805 |
| Profit (Loss) per Share | 2.09 | 2.23 |
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 - Decrease of total sales due to the drop in sales of certain sections specially smartphones and accessories, computers and their supplies, and video games despite the increased sales of school and office supplies sections following the resumption of the study in full attendance for all stages. Although total sales dropped 9.6%, gross profit decrease was only 3.7% due to the favorable change in sales mix in favor of sections involving relatively high profit margins. But with the increase of selling and marketing expenses, the decrease in net profit after Zakat and Tax decrease amounted to 6.1%. |
| 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 Despite the gross profit increased 13.8% resulting from favorable sales mix and the relatively improved profit margins, but the sharp decrease of other income caused the net profit to drop 4.3% as compared to the previous quarter. Other income in the previous quarter included (among other factors) a capital gain of 38 million Riyals on disposal of a parcel of land. |
| 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 | Comprehensive income in the current quarter is less than net profit by around Riyals 11 million mainly due to exchange losses related to the subsidiary in Egypt as a result of the authorities decision in March 2022 to devalue the Egyptian Pound currency against the foreign currencies including Saudi Riyal. A new showroom was opened during the period on 21/2/2022. |