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Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

Nvidia to take stake in Nokia

Nvidia share price soars 20%.

Jarir reports drop in H1 profit

Higher non-operating expenses impacted the nine-month results. (Jarir)
By TRENDS Desk
July 18, 2022 9:16 am
  • Consequently, its shares fell 2.78 percent to $39 on Sunday
  • This decline was caused by a 5.5 percent drop in sales compared to the same period last year along with higher marketing and sales expenses

Jarir Bookstore of Saudi Arabia has reported a six percent drop in profit to $114 million in the first half of the current year.

Consequently, its shares fell 2.78 percent to $39 on Sunday.

The retail giant saw its profits drop by 6 percent during the first half of 2022, on the back of lower sales.

The company’s net profit dropped to SR428.5 million ($114 million), compared to SR456.9 million in the previous year, according to bourse filings.

This decline was caused by a 5.5 percent drop in sales compared to the same period last year along with higher marketing and sales expenses.

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