Riyadh – Mubasher: The net profits after Zakat and tax of Jarir Marketing Company surged by 23.24% to SAR 208.4 million during the second quarter (Q2) of 2020, compared to SAR 169.1 million in the same quarter of 2019.

The rise in net profits is driven by an increase in sales of some retail sections, especially online sales, improved profit margin of certain sections, and a decrease in certain operational costs, as shown by the company's financial results for the period ended on 30 June 2020.

The company's revenues jumped by 25.43% to SAR 2,373.9 million in Q2-20 from SAR 1,892.6 million in the year-ago period.

The earnings per share (EPS) stood at SAR 3.83 during the April-June period this year, versus SAR 3.36 in the corresponding period of 2019.

On a quarterly basis, the company's net profits plunged by 17.2% in the second quarter, against SAR 251.7 million during the previous quarter.

It is noteworthy to mention that during the first quarter of 2020, the company saw net profits of SAR 251.7 million, up 7.7% from SAR 233.7 million in the same period in 2019.