Saudi Jarir reports USD29.8m profit in Q1 

(MENAFN) Jarir Marketing Co, Saudi Arabia's largest stationery and electronic products retailer, reported 20 percent increase in quarterly profits, higher sales of laptops and smart phones, Arab News reported.

The retailer said it made aUSD29.8 million profit in the first quarter, up from USD27.89 million a year earlier. Profits also were 31.6 percent higher from fourth quarter of 2011.

The company saw during the January-March period an increase in sales of all kinds of products especially electronic items like laptops, tablet PCs and smartphones.

The increase of the previous quarter was also driven by an increase in the sale of office and school supplies ahead of the Back To School season in Saudi Arabia, Jarir said.

The company added that turnover also rose as it added new showrooms to take its total to 30.