Jarir Marketing Co. reported SAR 200.8 net earnings for Q4 2014, leaping 25.5% year-on-year from SAR 160 million but falling 1.08% quarter-on-quarter from SAR 203 million.
The full-year net earnings reached SAR 740.4 million, with an increase of 13.33% over SAR 653.3 million in the year-ago period.
The company ascribed the profit rise y/y to the increase in sales of all the sections, other income, rent and capital profit of Alahsha showroom, number of showrooms from 32 to 36 as well as the decrease in G&A expenses, financial charges due to reduction in loans.
The full-year profit growth was driven by the rise in sales except laptops and tablets, other income, rent and capital profit of Alahsha showroom, number of showrooms from 32 to 36, as well as decrease in financial charges due to reduction in loans.
Jarir also attributed the profit decline q/q to the increase in the sales of all the sections except school and office supplies, as back to school season was in the previous quarter, in addition to the increase in the number of showrooms from 35 to 36, and decrease in net profit due to the change in sales mix.
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