Jarir Marketing Company announces its estimated annual financial results for the year ending 31 December 2024
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 10,830.9 | 10,594.9 | 2.23 | ||
| Gross Profit (Loss) | 1,324.5 | 1,275.9 | 3.81 | ||
| Operational Profit (Loss) | 1,052.8 | 1,045.1 | 0.74 | ||
| Net profit (Loss) | 974 | 973 | 0.1 | ||
| Total Comprehensive Income | 969.3 | 960 | 0.97 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,744.9 | 1,771.6 | -1.51 | ||
| Profit (Loss) per Share | 0.81 | 0.81 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Reasons for increase:
The increase in total sales by 2.2% is mainly due to the increase in sales of the smart phone and the computer and tablet sections. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Reasons for increase:
Despite the increase in gross profit by 3.8%, which is higher than the percentage of increase in sales, due to the relative improvement in the profit margin of certain sections, led by smartphones as a result of discounts received from vendors, and despite the increase in other income, the net profit achieved only a slight increase of 0.1% being affected by the increase of the selling and marketing expenses, administrative and general expenses, and non-operating expenses. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | These estimated annual financial results for the year ended December 31, 2024 are prepared by the management of the Company and have not yet been audited by the external auditor. |
| Reclassification of Comparison Items | None |
| Additional Information | The difference between the comprehensive income and the net profit for the current year includes exchange losses of SR 6.7 million (SR 12.1 million for the last year) related to the subsidiary in Egypt as a result of the Egyptian authorities decision to devalue the Egyptian Pound currency against the foreign currencies including Saudi Riyal.
Earnings per share for the two years presented are calculated based on the number of shares of the company amounting to 1,200 million shares after splitting each share into ten shares as decided by the extraordinary general assembly held on May 30, 2023. The company adopts the cost model for measurement of investment properties. Three new showrooms were opened during this period, on 25/7/2024 in Al Arid district, Abu Bakr Al Siddiq Road in Riyadh, on 16/9/2024 in Doha Mall in the State of Qatar and on 25/12/2024 in Al Mansoura district in Riyadh. |
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