Jarir expects positive growth in 2020, says chairman

Jarir Marketing Co. (JMC) expects positive business growth this year, chairman Muhammad Al-Agil told Argaam in an exclusive interview, adding that detailed forecasts will be published in the board report within 1 month.

“The company currently operates in 3 Gulf countries, and may tap the Bahraini market. It is also planning to open 5-6 new showrooms annually over the next 3 years,” Al-Agil said on the sidelines of the Retail Leaders Circle MENA Summit 2020.

Jarir’s e-commerce business witnessed a significant growth, mostly in electronics, the top official added, concluding that this sector depends on the introduction of new products.

Jarir’s net profit grew by 3% year-on-year (YoY) to SAR 984.7 million in the fiscal year 2019, Argaam reported.