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Jarir Marketing Company announces the estimated financial results for the period ending on (31-03-2024 Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,649.8 | 2,717.6 | -2.494 | 2,802.5 | -5.448 |
| Gross Profit (Loss) | 294.7 | 323.7 | -8.958 | 328.2 | -10.207 |
| Operational Profit (Loss) | 237.5 | 264.5 | -10.207 | 289.8 | -18.046 |
| Net profit (Loss) | 219.3 | 247.8 | -11.501 | 273.2 | -19.729 |
| Total Comprehensive Income | 214.2 | 237.8 | -9.924 | 271.8 | -21.192 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,709.8 | 1,775.3 | -3.689 |
| Profit (Loss) per Share | 0.18 | 0.21 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Reasons for decrease - Sales decrease by 2.5% as a result of the decrease in sales of certain sections, especially the computer, computer supplies and office supplies. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Reasons for decrease - Although sales decreased by only 2.5%, the gross profit witnessed a greater decline of 9.0% due to the relative decrease in the profit margin on smartphones to maintain our market share, which was the main factor that led to a decrease in net profit by 11.5%. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Reasons for decrease - Sales decrease by 5.4% as a result of a decrease in sales of certain sections, especially smartphones and office supplies, compared to the previous quarter (the fourth quarter of 2023), which hit a record quarterly sales. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Reasons for decrease - Despite the decrease in sales by 5.4%, the gross profit witnessed a greater decrease of 10.2% due to the relative decrease in the profit margins, especially on smart phones and computers, to maintain our market share. - Increase of selling and marketing expenses. - Decrease of other income. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | These estimated financial results for the period ended March 31, 2024 are prepared by the management of the Company and have not yet been reviewed by the external auditor. |
| Reclassification of Comparison Items | None |
| Additional Information | Both the current quarter and the same quarter of the previous year witnessed less comprehensive income than net profit, mainly due to the exchange losses related to the subsidiary in Egypt as a result of the Egyptian authorities’ decision during the current quarter and the same quarter of the previous year to devalue the Egyptian pound against foreign currencies, including the Saudi Riyal. Earnings per share for all presented periods are calculated based on the number of shares of the company amounting to 1,200 million shares after splitting each share into ten shares as decided by the extraordinary general assembly held on May 30, 2023. The company adopts the cost model for measurement of investment properties. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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