JEDDAH: Saudi Arabia retailer Jarir Marketing posted a 16 percent rise in fourth-quarter net profit as sales of smart phones, tablets and office supplies increased.

The company made a net profit of SR160 million in the three months to Dec. 31, it said in a bourse statement. This compares with a profit of SR137.9 million in the year-earlier period.

Analysts polled by Reuters on average forecast Jarir’s quarterly profit would be SR157.9 million.

The company said the profit increase was due to an “increase in the sales of most of sections especially smartphones, computer supplies, office supplies, tablets and books.”

Jarir’s full-year profit for 2013 was SR653.3 million, up 14.7 percent from 2012’s profit of SR569.8 million.

It plans to launch six new shops in 2014, of which four will open in the first half of the year, the statement said.

Jarir’s main domestic rival in retailing electronics, United Electronics Co. said its fourth-quarter net profit rose 1.4 percent to SR58.8 million from a year earlier.