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FINANCIAL NEWS
Saudi Jarir Marketing reports USD33.6m profit in Q2
08 Jul 2013
(MENAFN) Jarir Marketing, Saudi Arabia’s largest stationary and electronic products retailer reported a 17.9 percent increase in quarterly profits on higher sales, Reuters reported.
The company said it made USD33.6 million net profit during the second quarter, up from USD28.5 million ayera ago.
Jarir said the higher profits were driven by an increase in sales, primarily smartphones.
Jarir’s total turnover in the second quarter grew by 18.1 percent to USD285.25 million during the quarter compared to a year earlier.
Net profit for the first six months of 2013 was USD81.87 million, up 13.2 percent from last year.
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