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Jarir posts 25.5pc Q4 profit jump

RIYADH, January 7, 2015

Jarir Marketing, Saudi Arabia's second-largest listed retailer by market value, beat analysts' estimates as it posted a 25.5 per cent increase in fourth-quarter net profit on Wednesday on the back of higher turnover.

It made a net profit of SR200.8 million ($53.5 million) in the three months to December 31, compared to SR160 million in the same period a year earlier, it said in a bourse statement.

Seven analysts polled by Reuters had forecast, on average, a quarterly net profit of SR183.1 million.

The company said estimated turnover in the fourth quarter of 2014 was SR1.58 billion, up 20 per cent on the corresponding period of the previous year.  - Reuters




Tags: Saudi | retail | Jarir |

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