Saudi book and stationery reseller Jarir Marketing said its estimated fourth quarter profit jumped 21 percent on the year to 125 million riyals ($33 million) based on increased computer and technology sales, according to a regulatory filing.
 

According to the statement, posted on the website of the Saudi bourse, Jarir said its estimated profit for the year 2011 was 513 million riyals, a 28 percent rise from 2010.
 

However, the company said the estimated result for the last quarter of the year was 18 percent lower than its third quarter performance, when the start of the school year boosted sales.
 

At last year’s Reuters Middle East Investment Summit in Riyadh Jarir announced plans to spend over SR300 million (€60 million) to open up to 9 stores in Gulf countries by 2013.