Jarir Marketing Company Provides Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2012
January 07, 2013
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Jarir Marketing Company provided earnings guidance for the fourth quarter and year ended December 31, 2012. For the quarter, the company's estimated net profit of SAR 137.9 million, an increase of 10.5% compared to the same period last year of SAR 124.8 million, and a decrease of 14.2% compared to the third quarter 2012 of SAR 160.7 million. The estimated operating income was SAR 135 million, an increase of 9.8% compared to the same period last year of SAR 122.9 million. The estimated turnover was SAR 1.18 billion, an increase of 15.4% compared to the same period last year of SAR 1.02 billion. The reason for the rise in the estimated net profit for the fourth quarter and for the twelve months of year 2012 compared to the same periods last year was due to the increase in the sales of all sections (specially smart phones), as well as the increase of Jarir showrooms from 30 to 32 during this year. The drop in the estimated net profit for the 4th quarter compared to the 3rd quarter of this year was due to the seasonal nature of the sales, as the Back to School Season was included in the third quarter of this year.
For the year, the company's estimated net profit of SAR 569.8 million, an increase of 11.1% compared to the same period last year of SAR 513 million. The estimated earnings per share (EPS) were SAR 9.50 compared to SR 8.55 for the same period last year. The estimated operating income was SAR 562 million, an increase of 11% compared to the same period last year of SAR 506.5 million. The estimated turnover was SAR 4.63 billion, an increase of 11.7% compared to the same period last year of SAR 4.15 million.
Jarir Marketing Co SJSC is a Saudi Arabia-based joint stock company engaged in the wholesale and retail trade. The Company is active, along with its subsidiaries, in retail and wholesale trading in office and school supplies, childrenâs toys, books, educational aids, office furniture, engineering equipment, computer and computer systems, maintenance of computers, sports and scout equipment and paper. The Company is also involved in the purchase of residential and commercial buildings, and the acquisition of land to construct buildings for sale or lease. The Company operates through 37 showrooms, including wholesale outlets in the Kingdom of Saudi Arabia and the Gulf Cooperation Council (GCC), in addition to real estate investment in the Arab Republic of Egypt. The Companyâs subsidiaries include United Company for Office Supplies and Stationeries WLL, Jarir Trading Company LLC, United Bookshop, Jarir Bookstore and Jarir Egypt Financial Leasing Co SAE.