Jarir’s profit rises 3% in H1 2018

11/07/2018 Argaam Exclusive

Jarir Marketing Co., which owns bookstores and retail chains in Saudi Arabia, Kuwait and Abu Dhabi, reported a net profit of SAR 381.7 million in the first half of 2018, a 3.4 percent year-on-year (YoY) rise on higher profit margins and lower selling, distribution, general and administrative expenses.



Financials (M)

Item 6m 2017 6m 2018 Change‬
Revenues 3,289.76 3,292.74 0.1 %
Gross Income 440.09 455.20 3.4 %
Operating Income 346.16 366.46 5.9 %
Net Income 369.20 381.69 3.4 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.31 0.32 3.4 %

The company’s net profit for the second quarter jumped 10 percent YoY to SAR 162.6 million due to an increase in retail sales of electronics and higher profit margins.

 

On quarter-on-quarter (QoQ) basis, Q2 net profit was down 25.8 percent on higher expenses and lower non-operating income.



Current Quarter Comparison (M)

Compared With The
Item Q2 2017 Q2 2018 Change‬
Revenues 1,584.80 1,693.32 6.8 %
Gross Income 192.72 212.53 10.3 %
Operating Income 133.22 156.44 17.4 %
Net Income 147.76 162.59 10.0 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.12 0.14 10.0 %

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Share Price

Jarir Marketing Co.
12.80
(0.08) (0.62 %)

Jarir Marketing Co. (JARIR)

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Financial Ratios
Current
Market Cap (M Riyal) 15,360.00
Enterprise Value (EV) (M) 15,049.26
Shares Outstanding ((M)) 1,200.00
EPS ( Riyal) (TTM) 0.81
Book Value (BV) ( Riyal) 1.48
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 15.81
P/E (TTM) 15.81
Price/book 8.63
Return on Average Assets (%) (TTM) 23.5
Return on Average Equity (%) (TTM) 54.3
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2009 662.06 10.8 % 126.50 4.8 % 106.61 6.3 %
Q2 2009 572.96 (7.2 %) 102.47 12.0 % 79.43 13.6 %
Q3 2009 595.80 (6.4 %) 120.53 9.7 % 94.16 2.0 %
Q4 2009 724.48 8.4 % 136.87 21.2 % 104.26 20.3 %
Q1 2010 795.47 20.2 % 142.97 13.0 % 117.54 10.3 %
Q2 2010 671.97 17.3 % 98.82 (3.6 %) 74.74 (5.9 %)
Q3 2010 735.32 23.4 % 126.84 5.2 % 102.63 9.0 %
Q4 2010 811.80 12.1 % 132.95 (2.9 %) 100.77 (3.3 %)
Q1 2011 945.63 18.9 % 162.68 13.8 % 135.53 15.3 %
Q2 2011 968.26 44.1 % 127.80 29.3 % 97.22 30.1 %
Q3 2011 1,208.91 64.4 % 183.99 45.1 % 150.90 47.0 %
Q4 2011 1,024.52 26.2 % 159.15 19.7 % 122.89 21.9 %
Q1 2012 1,196.21 26.5 % 190.19 16.9 % 160.77 18.6 %
Q2 2012 1,065.83 10.1 % 137.29 7.4 % 106.17 9.2 %
Q3 2012 1,189.84 (1.6 %) 193.39 5.1 % 160.05 6.1 %
Q4 2012 1,182.34 15.4 % 173.24 8.9 % 135.00 9.9 %
Q1 2013 1,329.98 11.2 % 210.75 10.8 % 179.70 11.8 %
Q2 2013 1,258.28 18.1 % 163.93 19.4 % 127.32 19.9 %
Q3 2013 1,334.15 12.1 % 218.87 13.2 % 184.54 15.3 %
Q4 2013 1,320.26 11.7 % 200.80 15.9 % 156.49 15.9 %
Q1 2014 1,398.85 5.2 % 235.05 11.5 % 199.92 11.3 %
Q2 2014 1,289.43 2.5 % 173.66 5.9 % 133.31 4.7 %
Q3 2014 1,426.25 6.9 % 237.37 8.5 % 201.05 9.0 %
Q4 2014 1,584.20 20.0 % 240.39 19.7 % 192.53 23.0 %
Q1 2015 1,909.51 36.5 % 283.51 20.6 % 243.11 21.6 %
Q2 2015 1,405.76 9.0 % 191.37 10.2 % 151.70 13.8 %
Q3 2015 1,536.06 7.7 % 253.41 6.8 % 215.98 7.4 %
Q4 2015 1,524.05 (3.8 %) 243.74 1.4 % 197.91 2.8 %
Q1 2016 1,417.43 (25.8 %) 214.77 (24.2 %) 166.73 (31.4 %)
Q2 2016 1,390.74 (1.1 %) 162.76 (15.0 %) 116.18 (23.4 %)
Q3 2016 1,520.93 (1.0 %) 252.93 (0.2 %) 215.03 (0.4 %)
Q4 2016 1,793.46 17.7 % 244.80 0.4 % 210.11 6.2 %
Q1 2017 1,704.95 20.3 % 247.38 15.2 % 212.94 27.7 %
Q2 2017 1,584.80 14.0 % 192.72 18.4 % 133.22 14.7 %
Q3 2017 1,651.79 8.6 % 290.72 14.9 % 242.42 12.7 %
Q4 2017 2,000.39 11.5 % 306.42 25.2 % 246.19 17.2 %
Q1 2018 1,599.42 (6.2 %) 242.67 (1.9 %) 210.02 (1.4 %)
Q2 2018 1,693.32 6.8 % 212.53 10.3 % 156.44 17.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2009 107.45 10.6 % 0.09 - 107.45 0.09
Q2 2009 72.41 8.0 % 0.06 - 72.41 0.06
Q3 2009 90.64 2.5 % 0.08 - 90.64 0.08
Q4 2009 103.47 29.0 % 0.09 - 103.47 0.09
Q1 2010 118.49 10.3 % 0.10 - 118.49 0.10
Q2 2010 75.77 4.6 % 0.06 - 75.77 0.06
Q3 2010 102.87 13.5 % 0.09 - 102.87 0.09
Q4 2010 103.62 0.1 % 0.09 - 103.62 0.09
Q1 2011 136.77 15.4 % 0.11 - 136.77 0.11
Q2 2011 98.52 30.0 % 0.08 - 98.52 0.08
Q3 2011 152.88 48.6 % 0.13 - 152.88 0.13
Q4 2011 124.82 20.5 % 0.10 - 124.82 0.10
Q1 2012 164.23 20.1 % 0.14 - 164.23 0.14
Q2 2012 106.98 8.6 % 0.09 - 106.98 0.09
Q3 2012 160.71 5.1 % 0.13 - 160.71 0.13
Q4 2012 137.91 10.5 % 0.11 - 137.91 0.11
Q1 2013 180.84 10.1 % 0.15 - 180.84 0.15
Q2 2013 126.22 18.0 % 0.11 - 126.22 0.11
Q3 2013 186.19 15.9 % 0.16 - 186.19 0.16
Q4 2013 160.03 16.0 % 0.13 - 160.03 0.13
Q1 2014 201.33 11.3 % 0.17 - 201.33 0.17
Q2 2014 135.23 7.1 % 0.11 - 135.23 0.11
Q3 2014 203.00 9.0 % 0.17 - 203.00 0.17
Q4 2014 205.81 28.6 % 0.17 - 205.81 0.17
Q1 2015 247.02 22.7 % 0.21 - 247.02 0.21
Q2 2015 154.86 14.5 % 0.13 - 154.86 0.13
Q3 2015 218.50 7.6 % 0.18 - 218.50 0.18
Q4 2015 208.09 1.1 % 0.17 - 208.09 0.17
Q1 2016 174.96 (29.2 %) 0.15 - 174.96 0.15
Q2 2016 126.48 (18.3 %) 0.11 - 126.48 0.11
Q3 2016 217.92 (0.3 %) 0.18 (4.00) 221.92 0.18
Q4 2016 215.32 3.5 % 0.18 - 215.32 0.18
Q1 2017 221.44 26.6 % 0.18 - 221.44 0.18
Q2 2017 147.76 16.8 % 0.12 7.40 140.36 0.12
Q3 2017 246.53 13.1 % 0.21 - 246.53 0.21
Q4 2017 251.93 17.0 % 0.21 - 251.93 0.21
Q1 2018 219.10 (1.1 %) 0.18 - 219.10 0.18
Q2 2018 162.59 10.0 % 0.14 - 162.59 0.14

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 17.06 % 14.32 % 13.28 %
Q2 2009 17.79 % 14.97 % 13.72 %
Q3 2009 18.50 % 15.33 % 14.03 %
Q4 2009 19.03 % 15.78 % 14.64 %
Q1 2010 18.70 % 15.42 % 14.32 %
Q2 2010 17.91 % 14.74 % 13.93 %
Q3 2010 17.27 % 14.34 % 13.68 %
Q4 2010 16.64 % 13.78 % 13.29 %
Q1 2011 16.47 % 13.70 % 13.24 %
Q2 2011 15.90 % 13.17 % 12.76 %
Q3 2011 15.44 % 12.82 % 12.50 %
Q4 2011 15.28 % 12.72 % 12.37 %
Q1 2012 15.03 % 12.57 % 12.29 %
Q2 2012 14.92 % 12.52 % 12.21 %
Q3 2012 15.19 % 12.79 % 12.44 %
Q4 2012 14.98 % 12.59 % 12.30 %
Q1 2013 14.99 % 12.66 % 12.30 %
Q2 2013 14.94 % 12.59 % 12.21 %
Q3 2013 15.02 % 12.69 % 12.36 %
Q4 2013 15.15 % 12.70 % 12.46 %
Q1 2014 15.41 % 12.97 % 12.68 %
Q2 2014 15.51 % 13.03 % 12.78 %
Q3 2014 15.58 % 13.14 % 12.87 %
Q4 2014 15.56 % 13.18 % 13.08 %
Q1 2015 15.06 % 12.79 % 12.74 %
Q2 2015 15.06 % 12.84 % 12.82 %
Q3 2015 15.05 % 12.90 % 12.84 %
Q4 2015 15.25 % 13.19 % 12.99 %
Q1 2016 15.35 % 13.10 % 12.86 %
Q2 2016 14.91 % 12.59 % 12.41 %
Q3 2016 14.94 % 12.65 % 12.50 %
Q4 2016 14.30 % 12.26 % 12.07 %
Q1 2017 14.16 % 12.40 % 12.25 %
Q2 2017 14.20 % 12.33 % 12.10 %
Q3 2017 14.49 % 12.50 % 12.23 %
Q4 2017 14.94 % 12.73 % 12.39 %
Q1 2018 15.10 % 12.90 % 12.55 %
Q2 2018 15.15 % 13.07 % 12.67 %