‎Ghida Al-Sultan CEO says lower delivery app costs boost H1 2024 profit

Tue, 27 Aug 2024 19:01:00 GMT

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Majed Al-Mesbahi, CEO ofGhida Al-Sultan Co.

Ghida Al-Sultan Co.'s strong focus on slashing costs of delivery apps and boosting the operational efficiency of branches helped spur its profit in the first half of 2024, said CEO Majed Al-Mesbahi.

Al-Mesbahi told Argaam that the company achieved robust financial results in H1 2024, despite the significant sales impact in May from the mayonnaise crisis and the effect of food costs due to the Red Sea shipping crisis.

The increase in the commission for delivery apps during the six-month period is one of the reasons for the decline in profit margins, said the top executive, noting that the company aims to boost profit margin in the coming period.

He stated that the sector is in a corrective position due to the ease of entry and exit of competitors, expecting that the sector will become more stable in 2025 than this year.

The number of the company's branches reached 60 in H1 2024. The two brands, "Foil" and "TNDR", constitute about 26% of total sales, while Sultan Delight Burger represents approximately 74% of total sales, according to the CEO.

Al-Mesbahi expects growth for "Foil" and "TNDR" over the coming period, indicating that plans are being developed to establish new brands annually with various products to cover other target groups.

According to Argaam's data, Ghida Al-Sultan reported a net profit of SAR 6.8 million for H1 2024, an increase of 9% from SAR 6.2 million in a year-earlier period.

‎Jarir’s online sales jump 39% after major revamp: Chairman

Mon, 13 Oct 2025 15:27:00 GMT

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Muhammad Alagil, Chairman of Jarir Marketing Co.

Jarir Marketing Co.’s online store sales rose 39% in 2025 from a year earlier after a comprehensive overhaul and major upgrades to the site’s user experience, Chairman Muhammad Alagil told Argaam.

He said online sales contributed 30% of the company’s total revenue by the end of Q3 2025, while showrooms accounted for the remaining 70%.

The mobile phones segment was the top performer in the third quarter, representing about 50% of total sales, followed by the computers division, Alagil said. He added that demand for technology products surged after the introduction of artificial intelligence (AI) features.

Alagil described 2025 as “the year of AI-powered products,” such as smartphones and PCs, in line with Saudi Arabia’s efforts to support the sector.

Sales through installment programs rose 37% year-on-year in the third quarter and now account for 30% of total sales, he said.

“Jarir has recently launched trade-in offers that helped boost sales, along with improved after-sales services,” Alagil said, noting that the online store attracts around 6 million visitors per month.

The company has also expanded the range of products offered online to overcome space limitations in traditional outlets, he added.

About half of online orders are delivered within an hour, and the store currently offers around 500,000 books printed on demand, Alagil said.

He added that Jarir is continuing its expansion across the Gulf Cooperation Council (GCC) region, with operations in Qatar, Kuwait, Bahrain, and the UAE, and plans to open a new store soon.

The Chairman said the company will continue to launch new initiatives to sustain its growth momentum through the fourth quarter.

According to Argaam’s data, Jarir’s profit rose to SAR 739.4 million in the first nine months of 2025, up 5.8% from SAR 698.6 million in the same period a year earlier. Q3 2025 net profit rose 5% year-on-year to SAR 324.9 million.

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‎Ghida Al-Sultan CEO says lower delivery app costs boost H1 2024 profit

‎Jarir’s online sales jump 39% after major revamp: Chairman