Riyadh – Mubasher: Jarir Marketing Company has shut down its showroom in the UAE that is located inside Nation Galleria Complex in Abu Dhabi’s Corniche Area.
The Saudi company said the closure of its showroom in the UAE took place on 31 December 2021, according to a bourse filing on Monday.
Jarir attributed the shutdown of its unit to having a performance below expectations with doubts to improve in the near future.
The listed company estimated around SAR 1.7 million in losses resulting from the closure, noting that the impact has been registered in the fourth quarter (Q4) of 2021.
Last November, Jariri announced SAR 2.05 per share dividend for Q3-21.
