reports
Q1 figures confirming our negative outlook for 2016
Jarir posted a Q1 2016 net profit in decline by 29.5% to SAR174.1m. The operating profit amounted to SAR163.7m, a drop of 32.7% compared to the same quarter of the previous year. The company posted a sales decrease of 25.8%, down to SAR1,417.4, as Sales of electronics, such as smart phones, computers and computers supplies, declined compared to the same quarter last year.
Announced results in line with our full-year profit projections
Jarir recorded Q4 2015 consolidated sales in decrease by 3.8%, a weak organic growth compared to Q4 2014 sales, while FY 2015 total sales witnessed an 11.9% increase compared to the previous year (SAR6375.4M in 2015 Vs. SAR5,698.7 in 2014). The group posted a net profit amounting to SAR828.5M, edging up 11% compared to 2014. Thus, the net margin stood around 13%. The operational profit also increased by 11.27%, rising from SAR726.8M to SAR808.7M setting the operating margin at 12.68%.
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