Jarir Bookstore posts SAR 974 mn in net income for 2024

Earnings season continues, albeit at a slower pace this morning, with Jarir Marketing reporting its full-year 2024 earnings and East Pipes releasing its 3Q 2024 results.

JARIR MARKETING-

Tadawul-listed Jarir Marketing Company’s net income increased marginally to SAR 974 mn in 2024, according to a disclosure to Tadawul. Higher selling, marketing, administrative, and non-operating expenses impacted the results, the company said. Meanwhile, revenues grew 2.2% y-o-y to SAR 10.8 bn in the same period, driven by increased sales in smartphones, tablets, and computers.

EAST PIPES-

East Pipes Integrated Company reported a 237.2% y-o-y increase in net income in 9M 2024, reaching SAR 296.5 mn on the back of increased sales volumes, lower production costs, and reduced finance expenses, it said in its earnings release (pdf). Meanwhile, revenues rose 74.4% y-o-y to SAR 1.4 bn over the same period.

On a 3Q basis, East Pipes saw a 31.2% y-o-y increase in its net income to SAR 112.4 mn. Meanwhile, revenues dropped 4.4% y-o-y to SAR 527.9 mn over the same period due to lower sales volumes and a decline in the average selling prices, it said in a disclosure to Tadawul.