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Jabal Omar’s Net Profit has risen to 219%, amounting to 141.6 Million Riyals in the First Half of the Year 1438 AH

JODC announced its preliminary financial results for the period ended in the past six months until 29/06/1438 AH, showing that the total revenues amounted to SAR 580,778,472 in the last six months of the year 1438 AH compared to SAR 205,309,307 for the same period last year; i.e. an increase of 183%, while the gross profit in the current period amounted to SAR 291,399,740 compared to SAR 25,795,259 for the same period last year; i.e. an increase of 1030%. Furthermore, the operating profit in the current period amounted to SAR 227,661,236 compared to a loss of SAR 26,600,938 for the same period last year; i.e. an increase of 956%, and the net profit after the Zakat and tax in the current period amounted to SAR 141,671,189 compared to a loss of SAR 119,500,693 for the same period last year; i.e. an increase of 219%.

The company explained that the total revenues amounted to SAR 269,306,447 during the current quarter, ending on 29/06/1438 AH, compared to SAR 100,801,267 for the same quarter last year; i.e. an increase of 167%, while the gross profit in the current quarter amounted to SAR 137,746,579 compared to SAR 17,346,096 f for the same quarter last year; i.e. an increase of 694%. Furthermore, the operating profit in the current quarter amounted to SAR 106,367,436 compared to a loss of SAR 5,184,580 for the same quarter last year; i.e. an increase of 2153%, and the net profit after the Zakat and tax in the current quarter amounted to SAR 62,370,916 compared to a loss of 43,993,857 for the same quarter last year; i.e. with an increase of 242%, and compared to a profit of SAR 79,300,273 for the previous quarter; with a decline of 21%.

The earnings per share in the current period reached SAR 0.15, compared to a loss of SAR 0.13 for the same period last year. The total shareholders’ equity (after excluding the minority interests) in the current period amounted to SAR 10,249,829,136 compared to SAR 9,322,766,618 for the same period last year; i.e. an increase of 10%.

The reason behind the achievement of profit in the current quarter compared to the same quarter of the previous year is the rise in the residential units’ sale revenues and the hotel revenues; and the reason behind the decline in the current quarter compared to the previous quarter of the current year is the decline in the residential units’ sale revenues and the hotel revenues, along with proving the commercial discount for shops.

The reason behind the achievement of profit in the current period compared to the same period of the previous year is the rise in the residential units’ sale revenues and the hotel revenues.

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