JEDDAH: Jarir Marketing, Saudi Arabia’s second-largest listed retailer by market value, beat analysts’ estimates as it posted a 25.5 percent increase in fourth-quarter net profit on the back of higher turnover.

It made a net profit of SR200.8 million ($53.5 million) in the three months to Dec. 31, compared to SR160 million in the same period a year earlier, it said in a bourse statement.

Seven analysts polled by Reuters had forecast, on average, a quarterly net profit of SR183.1 million.

The company said estimated turnover in the fourth quarter of 2014 was SR1.58 billion, up 20 percent on the corresponding period of the previous year.