Riyadh – Mubasher: Albilad Capital on Tuesday forecasted that Jarir Marketing’s profits will increase by 14.96% during 2017 to reach SAR 853 million for the full year, compared to SAR 742 million in 2016.

Jarir Marketing saw a strong performance in the third quarter of 2017 due to an increase in the number of its showrooms, alongside the rise in market share of its electronics segment, according to Albilad’s report.

Based on the financial results of the Saudi Arabia-based marketing firm, the research company kept its valuation of the stock at SAR 147 per share, with a neutral recommendation.

Jarir Marketing’s financial statements last showed profits of SAR 246.5 million in Q3-17, in line with Albilad’s forecasts of SAR 240 million, while analysts’ median forecast was SAR 201 million.

The Saudi marketing company’s profits levelled up 13.13% to reach SAR 246.5 million in Q3-17, compared to SAR 217.9 million in Q3-16.