The company’s quarterly profit fell Jarir Marketing Saudi Arabia 6%, in the first quarter of 2022, to 251.1 million riyals, compared to 276.6 million riyals, in the corresponding period of 2021.
Profits decreased on a quarterly basis by 4.2%, from 262.5 million riyals in the previous quarter.
The value of the company’s operating profits in the first quarter amounted to 325 million riyals, compared to 337.6 million riyals, in the corresponding period of last year, a decrease of 3.7%.
The company said in a statement posted on the Saudi market’s website “Tadawul” that the decline in profits for the first quarter is due to a decrease in total sales as a result of the decline in some departments, especially smartphones and their accessories, computers and accessories and video games, despite the increase in sales of the school and office supplies department after the resumption of the study in attendance at all stages.
She added, “Although the total decrease in sales amounted to 9.6% compared to the same quarter of the previous year, the gross profit decreased by only 3.7%, due to the positive change in the sales mix in favor of departments with relatively high profitability. With the increase in selling and marketing expenses, the decrease in net profit reached After zakat and 6.1% tax.