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FINANCIAL NEWS
Saudi Jarir net profit raise 2% in Q4
09 Jan 2011
(MENAFN) Jarir Marketing Co, a Saudi company for office supplies and electronics retailer, announced that net profit in the duration starting September 2010 and ending in December of the same year amounted to $27.7 million and thus registering a two percent increase on higher sales compared with the same period a year before, reported Arabian Business.
The firm stated that the increase in sales was due to a hike in smart phone sales and computer sales as well as other electronic devices and accessories.
The company also announced that annual profit in 2010 raised by 7.2 percent amounting to $106.6 million. Original target was to achieve a hike of 15 percent in 2010 after the chain opened new stores.
It is worth that Jarir announced in 2010 plans for increasing sales to $266 million riyals in 2012.
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