Jarir Marketing Co. posted on Tuesday financial results for the 12-month period ending on Dec. 31, 2014.
Q4 net profit reached SAR 200.8 million, 25.5% higher than SAR 160 million in Q4 2013 but 1.08% lower than SAR 203 million in Q3 2014.
The full-year earnings netted SAR 740.4 million, rising 13.33% compared with SAR 653.3 million in the previous year.
The earnings per share increased from SAR 7.26 to SAR 8.23.
Q4 profit growth y/y was driven by increase in sales of all the sections, other income, rent and capital profit of Alahsa showroom, in addition to increase in the number of showrooms from 32 to 36 and decrease in general and administrative expenses and financial charges due to reduction in loans, Jarir said.
It added that Q4 profit decline q/q was due to increase in selling and distribution expenses of the sales mix.
Jarir attributed FY2014 profit rise to increase in sales of all the sections except Laptops and Tablets, other income, rent and capital profit of Alahsa showroom, in addition to rise in the number of showrooms from 32 to 36 and decrease in financial charges due to reduction in loans.
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