Top-line concerns vs. higher than expected margins
Jarir recorded Q3 2016 consolidated sales declined slightly by 1% to SAR1,520m compared to SAR1,536m in the same quarter last year. The group posted a net profit amounting to SAR220m, up 0.7% compared to Q3 2015 due to an increase in sales of school and office supplies as the first term of the back to school season falls in this quarter as well as a decline in the operating and non operating expenses.9M 2016 revenues amounted to SAR4,329m, a yoy drop of 10.8% due to a decrease in sales of computers (laptops and tablets), computer supplies, electronics and smart phones.
Jarir Marketing Company. 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, children's 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 Company's 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.
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