Jarir Marketing Co. Chairman Mohammed Al-Agil told Al-Arabiya TV Channel that his company will invest nearly SAR 50 million in the fourth quarter of 2014; thus raising its investments to SAR 150 million this year.
The Saudi Arabian retailer reported SAR 203 million net earnings for Q3 2014, growing 9.02% year-on-year from SAR 186.2 million and 50.15% quarter-on-quarter from SAR 135.2 million.
The nine-month earnings netted SAR 539.6 million, rising 9.41% from SAR 493.2 million in the same period of last year.
Jarir ascribed the rise in Q3 earnings y/y to the increase in the sales of all the sections except computers and peripherals which declined at less than the global declining ratio, in addition to the increase in the number of showrooms from 32 to 35.
Al-Agil said the sales of PC and ipad declined remarkably, while the sales of other products were ‘good’, most of which rose by 10% and 20%.
Jarir has opened a new showroom in Riyadh; thus bringing the total number of its showrooms in Riyadh to 10 and 31 inside Saudi Arabia and 36 in Saudi and GCC countries.