Jarir Marketing Co. announces its Annual Financial Results for the Period Ending on 2021-12-31
06-Apr-2022
| ELEMENT LIST | CURRENT YEAR | PREVIOUS YEAR | %CHANGE |
| Sales/Revenue | 9,088.3 | 9,305.8 | -2.337 |
| Gross Profit (Loss) | 1,229.3 | 1,328.6 | -7.474 |
| Operational Profit (Loss) | 1,061.4 | 1,100.9 | -3.587 |
| Net Profit (Loss) after Zakat and Tax | 991.9 | 1,003 | -1.106 |
| Total Comprehensive Income | 991.8 | 1,004.1 | -1.224 |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,769 | 1,725.2 | 2.538 |
| Profit (Loss) per Share | 8.27 | 8.36 |
All figures are in (Millions) Saudi Arabia, Riyals
| ELEMENT LIST | EXPLANATION |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Reasons for decrease: - decrease in sales of certain sections specially the computers, computer supplies, and video games being impacted by the lack of supply. Despite the sales decrease of only 2.3%, the gross profit dropped 7.5% due to the fact that such sales were generated by a greater number of showrooms compared to the prior year meaning that the total showrooms operating cost increased while sales decreased 2.3%. Although gross profit decreased 7.5%, the net income decreased only 1.1% due to: - increase in other income which included (among other factors) a capital gain of 38 million Riyals on disposal of a parcel of land. - decrease in general and administrative expenses, which included in the prior year voluntary contributions amounting to 25 million Riyals to support government initiatives. - decrease in finance cost. - decrease in zakat expense. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None. |
| Reclassification of Comparison Items | None. |
| Additional Information | Six showrooms were opened during the year on 7/3/2021, 11/4/2021, 9/5/2021, 8/7/2021, 8/12/2021 and 22/12/2021 while two showrooms were closed, one in Jeddah on 1/2/2021 of which a replacement showroom was opened end of the prior year, and another showroom closed in Abu Dhabi on 31/12/2021. |