Jarir will continue to pursue expansions, says chairman

Jarir Marketing Co. will continue to expand in Saudi Arabia and the region, with seven new branches planned in the kingdom, Kuwait, and the United Arab Emirates, said Muhammad Al Agil, chairman of the company. 

The company will likely pay a cash dividend between 75 to 85 percent of capital, according to management's guidance.

Jarir will likely make a return on capital (RoC) of 60 percent; which marks the highest level in the Saudi market, Al Agil was quoted as saying by Al Arabiya TV.

The company's sales of electronic devices dominated about 65 percent of total sales this quarter, followed by computers and phones. 

In a separate interview, Al Agil told CNBC Arabia that the company’s new branches will likely contribute 10 percent to revenues.

According to data compiled on Argaam, Jarir reported SAR 247 million earnings (SAR 2.74 a share) in the first quarter, leaping 23 percent year-on-year.