Saudi: Jarir posts 3% drop in H1-24 profits; revenues cross $1.38bln

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Riyadh – Jarir Marketing Company (Jarir Bookstores) witnessed a 3.24% year-on-year (YoY) decline in net profit to SAR 390.40 million in the first half (H1) of 2024, compared to SAR 403.50 million.

Estimated revenues hit SAR 5.29 billion in H1-24, up 2.84% from SAR 5.15 billion as of 30 June 2023, according to the financial results.

The earnings per share (EPS) grew to SAR 0.33 in the first six months (6M) of 2024 from SAR 0.34 in H1-23.

Financials for Q2-24

In the second quarter (Q2) of 2024, the company’s net profits reached SAR 171.10 million, an annual growth of 9.82% from SAR 155.80 million.

Jarir generated 8.79% higher revenues at SAR 2.65 billion in Q2-24, compared to SAR 2.43 billion a year earlier.

Quarterly, the Q2-24 net profits dropped by 21.97% from SAR 219.30 million in Q1-24, while the revenues edged up by 0.007% from SAR 2.64 billion.