Al-Eqtisadiah from Riyadh

Wednesday, July 15, 2026 10:26 | 2-minute read

Jarir Saudi Arabia's net profit rose 19.4% in the second quarter of this year to SAR 235.6 million, compared to SAR 197.2 million in the same quarter of last year.

"Jarir" explained in a statement on "Tadawul" on Wednesday that the growth in net income is due to a 24% increase in gross profit, a rate higher than the sales increase, resulting from improved profit margins as product scarcity led to avoidance of promotional price discounts compared to the previous year.

The increase in gross profit is also due to the relative improvement of the sales mix in favor of departments with relatively high profitability, such as school supplies and books, while net profit rose 19.5%, a rate lower than the gross profit, after an increase in selling and marketing expenses and general and administrative expenses, and a decrease in other income.

Meanwhile, the company's quarterly revenues grew by about 7.2% to SAR 2.77 billion, driven by increased sales in most departments, especially smartphones, and good sales performance in subsidiaries in Gulf countries, which benefited from inventory built up in previous periods and the quality of the company's logistics system.

Sun, 19 2026

Chairman of the Board of Directors of "Jarir" Mohammed Al-Aqil had told Al-Eqtisadiah, commenting on the first quarter results, that the launch of the iPhone 17 significantly contributed to supporting sales, in addition to expanding the branch network, with a plan to reach 7 exhibitions by the end of the year.

He affirmed continued expansion by opening exhibitions, alongside developing the electronic platform, which saw a notable improvement in performance and an increase in user traffic. The company launched a service for exchanging old devices, allowing customers to exchange their devices for new ones instead of discarding them.

"Jarir," founded in 1979, operates in retail and wholesale of electronics, smartphones, school supplies, and books in Saudi Arabia and the Gulf countries. Its current market value is SAR 21.5 billion, and Jarir Commercial Investments owns the largest stake in its capital, reaching 22%.