The Clap
Jarir’s (4190) net profit increased by 0.44% in Q3 2022.
The Deets
The company recorded a net profit of SAR 273.7 million, a YoY increase from SAR 272.5 million in Q3 2021.
Jarir
Jarir owns a chain of bookstores in Saudi Arabia, Qatar, Kuwait, and Abu Dhabi.
The company is one of the largest computer hardware vendors in the MENA region.
Sales
Jarir’s sales increased by 13.1% in Q3, largely due to smartphones, school supplies, and promotions for the back-to-school season.
The increase in gross profit was less (8.2%) as promotions and discounts have sacrificed some of the gross profit to stimulate sales and increase market share.
Performance
The company’s net profit declined during the first nine months of 2022 to about SAR 702.2 million, compared to SAR 729.4 million YoY.
