Jarir's profits jump 15.1% and approach $100 million in the third quarter

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Jarir Marketing Company's net profit increased by 15.1% during the third quarter of 2026, reaching $99.73 million (374 million riyals), compared to about $86.64 million (324.9 million riyals) in the same quarter of the previous year.

On a quarterly basis, Jarir’s profits increased by 58.74% in the third quarter of the current year compared to its profits in the second quarter of the same year, amounting to $62.83 million (235.6 million riyals).

The company explained in a statement on Tadawul Saudi Arabia on Tuesday that the increase in net profit is due to a growth in total profit by 14.4%, exceeding the sales growth rate, as a result of improved profit margins in many departments, in addition to an increase in other revenues and a slight decrease in net financing burdens.

The company's revenues during the third quarter recorded about $840.83 million (3.15 billion riyals), an increase of 7.8% compared to about $779.89 million (2.92 billion riyals) in the same quarter of the previous year, supported by an increase in sales of most departments, especially the smart phone department.

Regarding the results of the first nine months of 2026, the company’s net profit increased by 16.7% to reach $230.13 million (863 million riyals), compared to about $197.17 million (739.4 million riyals) during the similar period of the previous year.

Revenues also increased by 9.7% to $2.39 billion (8.97 billion riyals), compared to $2.18 billion (8.17 billion riyals) in the corresponding period of 2025.

The company attributed the growth in profits during the period to improved profitability margins in most departments, supported by the lack of need to offer promotional offers at reduced prices compared to the previous year, in light of the scarcity of product supply.

Jarir indicated the opening of five new showrooms during the first nine months of this year, in Medina, Al-Baha, Riyadh, Arar, and King Fahd International Airport in Dammam, in addition to the opening of two alternative showrooms in Kuwait and Jeddah.

In contrast, the company closed its showroom located on King Abdulaziz Road in Riyadh, as of May 10, 2026.