Riyadh – Mubasher: Jarir Marketing announced that IFRS adjustments resulted in a decrease in retained earnings of around SAR 25 million.

The company attributed the earnings decline to increase in the end of service provision owing to the implementation of requirements of IAS 19 and de-recognition of deferred profit, on a sale and leaseback transaction.

Jarir noted that the financial statements were prepared for management purposes and have not been audited or reviewed by the external auditor of the company.