Jarir reveals strong financial results in 2024... Sales growth boosts profits!

Jarir Marketing Company, listed on the Saudi Stock Exchange (TADAWUL: 4190), announced a net profit of 974 million riyals for the fiscal year ending in 2024, marking a growth of 0.1% compared to the same period last year, when net profit was 973 million riyals. This growth is attributed to a 2.2% increase in sales, driven by rising demand for smartphones and computers.

Jarir Announces Cash Dividends of 276 Million Riyals

The Board of Directors of Jarir Bookstore has approved the distribution of cash dividends to shareholders amounting to 276 million riyals for the fourth quarter of 2024, at a rate of 0.23 riyals per share, which equates to 23% of the nominal value of the share.

Performance of Jarir's Share in the Saudi Stock Market

The share of Jarir Marketing (TADAWUL: 4190) increased by 1.12% during trading on the Saudi Stock Exchange, adding 0.14 riyals per share to reach 12.68 riyals.

Expansion Plans and Future Growth

Jarir Marketing was established in 1974 in Riyadh as a small bookstore and became a public joint-stock company listed on the Saudi financial market in 2002. The company owns 59 branches inside Saudi Arabia and abroad, including in the UAE, Kuwait, Qatar, and Bahrain, and operates in the retail and wholesale sector for a wide range of products.

The company aims to expand its operations in 2025 by opening more than 80 new showrooms in Saudi Arabia and the Gulf countries, targeting an average annual growth of 10% through branch expansion and increasing its market share.

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Jarir Records Strong Profits Despite Challenges from Expenses and New Expansions in 2024