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Thndr Claps » Saudi Claps » Tadawul 🔔 » Jarir’s profits down in 2022 ⬇️

Jarir’s profits down in 2022 ⬇️

by Omar El Shorafa
January 31, 2023

The Clap
Jarir’s (4190) net profit declined by 2.2% by the end of 2022, compared to 2021.

What
Jarir explained that its annual profits decreased due to the decrease in other revenues and the increase in selling and marketing expenses.

The increase in these costs were driven by increased spending on advertising to support sales and promotions.

So What
Jarir’s sales increased by 3.3% as a result of more sales in most of its divisions, especially school  and office supplies and smart phones.

Now What
The company’s chairman expects Jarir to not be affected by high interest rates in the coming period, due to the decrease in the volume of its loans.

He also added that there is a financial surplus in the company and the company will continue to distribute a large part of its profits.

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