On 2026-07-15 09:20:08 (Saudi Time), Jarir Marketing Company announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, Jarir Marketing Company's sales/revenue rose 10.813% YoY to SAR 5,812.5 million (from SAR 5,245.3 million), driven primarily by increased sales across most product sections, especially smartphones, along with strong performance from GCC subsidiaries benefiting from prior-period inventory build-up and the quality of the company's logistics system. Net profit attributable to shareholders grew 17.973% YoY to SAR 489 million (from SAR 414.5 million), supported by gross profit growth of 18.177% which outpaced the sales growth rate, as supply scarcity led the company to refrain from offering promotional price reductions, thereby improving the gross profit margin.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 8.704% to SAR 2,774 million (from SAR 3,038.5 million in the previous quarter), driven by a pullback in certain departments, particularly the smartphone section which had achieved record sales in the prior quarter. Despite the sharp revenue drop, gross profit fell only marginally by 0.409% to SAR 340.3 million (vs. SAR 341.7 million), reflecting an improved gross profit margin in the current quarter. However, net profit attributable to shareholders decreased 7.061% to SAR 235.6 million (from SAR 253.5 million), primarily due to higher selling and marketing expenses, increased general and administrative expenses, and decreased other income.

Other Items

Jarir Marketing Company's estimated financial results for the six months ended June 30, 2026 were prepared by management and have not yet been reviewed by the external auditor; the auditor's conclusion type is noted as "unmodified conclusion." No accumulated losses or fair value changes on investment properties were reported. Total shareholders' equity (after deducting minority equity) stood at SAR 1,686.4 million as of the current period, compared to SAR 1,655.7 million in the same period of the prior year, a change of 1.854%. Earnings per share for the current period were SAR 0.41, up from SAR 0.35 in the same period of the prior year. The difference between total comprehensive income (SAR 488.3 million) and net profit (SAR 489 million) is mainly attributable to foreign currency translation differences related to the company's subsidiary in Egypt, arising from changes in the Egyptian pound conversion rate against foreign currencies including the Saudi riyal. The company adopts the cost model for measurement of investment properties. During the current period, three new showrooms were opened — on 26/1/2026 inside Al Alya Mall in Madinah, on 17/2/2026 inside Al Baha Square commercial complex in Al-Baha, and on 19/4/2026 inside Granada Mall in Riyadh — and two replacement showrooms were opened, on 8/4/2026 inside the Gate Mall in Kuwait (replacing the Sama Mall showroom) and on 7/6/2026 on Al Madinah Road in Jeddah (replacing the showroom on King Abdulaziz Road in Jeddah). Certain comparative figures have been reclassified to conform with the presentation of the current period. No material risks or going concern issues were disclosed.

Original announcement:

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