Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) reported net profits after Zakat and tax worth SAR 699.90 million during the first nine months (9M) of 2023, marginally down by 0.33% from SAR 702.20 million in 9M-22.
Earnings per share (EPS) edged down to SAR 0.58 in 9M-23, compared with SAR 0.59 in the same period a year ago.
Jarir stated that the estimated financial results for 9M-23 were prepared by its management and the external auditor has not reviewed them yet, according to a bourse filing.
The listed entity generated sales worth SAR 7.79 billion during the January-September 2023 period, an annual increase of 14.35% from SAR 6.81 billion.
Income Statements for Q3-23
During the third quarter (Q3) of 2023, Jarir achieved an 8.26% growth in net profit after Zakat and tax to SAR 296.30 million from SAR 273.70 million in Q3-22.
The sales also rose by 4.85% year-on-year (YoY) to SAR 2.63 billion during July-September 2023, compared with SAR 2.51 billion. Higher other income as well as positive revenues, mainly sales from computer and video games sections, boosted the company’s Q2-23 net profits, in addition to signalling a decline in selling and marketing expenses.
On a quarterly basis, the net profits of Jarir in Q3-23 witnessed a 90.18% leap from SAR 155.80 million in Q2-23 and the sales increased by 8.35% from SAR 2.43 billion.
