Jarir Marketing Co. reported a net profit after Zakat and tax of SAR 1.003 billion for 2020, a rise of 2% year-on-year (YoY), driven by the rise in the retail sales of electronics, computers, computer supplies, arts supplies, and video games sections.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 8,424.51 | 9,305.81 | 10.5 % |
| Gross Income | 1,273.17 | 1,328.61 | 4.4 % |
| Operating Income | 1,021.72 | 1,052.99 | 3.1 % |
| Net Income | 984.73 | 1,002.99 | 1.9 % |
| Average Shares | 1,200.00 | 1,200.00 | - |
| EPS (Riyals) | 0.82 | 0.84 | 1.9 % |
The company also cited rise in the number of showrooms from 59 to 63, along with a 10.5% increase in sales, for the profit jump.
This came despite a drop in wholesale and retail sales of school and office supplies which were negatively affected by the shift from the traditional education format to the remote learning to control the spread of COVID-19.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 2,394.06 | 2,553.83 | 6.7 % |
| Gross Income | 348.00 | 362.96 | 4.3 % |
| Operating Income | 280.44 | 304.52 | 8.6 % |
| Net Income | 276.94 | 287.67 | 3.9 % |
| Average Shares | 1,200.00 | 1,200.00 | - |
| EPS (Riyals) | 0.23 | 0.24 | 3.9 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 2,037.85 | 2,553.83 | 25.3 % |
| Gross Income | 334.46 | 362.96 | 8.5 % |
| Operating Income | 265.06 | 304.52 | 14.9 % |
| Net Income | 255.24 | 287.67 | 12.7 % |
| Average Shares | 1,200.00 | 1,200.00 | - |
| EPS (Riyals) | 0.21 | 0.24 | 12.7 % |
The company reported a 4% YoY increase in net profit after Zakat and tax to SAR 287.6 million in the fourth quarter of 2020.
Shareholders' equity (excluding minority rights) amounted to SAR 1.72 billion in FY2020, compared to SAR 1.64 billion riyals at the end of the same period of 2019.
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