Jarir Marketing Co. (JARIR) headed for the highest close on record after Saudi Arabia’s largest stationery and electronic products retailer said its first-quarter profit increased 20 percent.
The shares advanced 1.5 percent to 156.5 riyals at 11:16 a.m. in Riyadh, headed for the highest close since at least December 2003, when Bloomberg started tracking the data.
Net income advanced to 164.2 million riyals ($44 million) on higher sales of laptops and smart phones, the company said.
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