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FINANCIAL NEWS
Saudi’s Jarir net profit up 9 percent in Q3
14 Oct 2014
(MENAFN) Jarir Marketing, the Saudi Arabian retailer, announced posting an increase of 9 percent in its net profit in the July-September period of this year, Arab News reported.
In the third quarter of 2014, Jarir’s net profit reached USD54.1 million, compared to USD49.63 million registered in the corresponding period of 2013.
The retailer attributed the growth of net profit to an increase in sales in all segments, except from computers and peripherals.
Jarir also said that it had opened five new showrooms in 2014, while delaying the opening of another two till the January-March period of 2015 due to construction delays.
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