Leejam Sports Co. (Fitness Time) reported a net profit after Zakat and tax of SAR 150.1 million, for the first nine months of 2022, an increase of 25%, compared to SAR 120.1 million in the year earlier period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 624.25 | 729.07 | 16.8 % |
| Gross Income | 247.66 | 270.95 | 9.4 % |
| Operating Income | 158.38 | 196.55 | 24.1 % |
| Net Income | 120.12 | 150.10 | 25.0 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 2.29 | 2.87 | 25.0 % |
Revenue rose by SAR 104.81 million, on adding 15 new fitness centers, offset by higher cost of revenue and increased general and administrative expenses.
Q3 net profit after Zakat and tax dropped 11% year-on-year (YoY) to SAR 68.1 million, from SAR 76.20 million, due to an increase of 25% YoY in overall cost of revenue on adding 15 new centers since Q3 2021. Cost of finance also increased by 7.5% YoY in the three-month period.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 253.84 | 264.45 | 4.2 % |
| Gross Income | 128.46 | 107.18 | (16.6 %) |
| Operating Income | 89.70 | 85.46 | (4.7 %) |
| Net Income | 76.20 | 68.06 | (10.7 %) |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 1.45 | 1.30 | (10.7 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 232.99 | 264.45 | 13.5 % |
| Gross Income | 78.05 | 107.18 | 37.3 % |
| Operating Income | 52.04 | 85.46 | 64.2 % |
| Net Income | 36.02 | 68.06 | 88.9 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 0.69 | 1.30 | 88.9 % |
On a sequential basis, Q3 net profit surged 88.9% from SAR 36.02 million.
Total shareholders’ equity, no minority interest, reached SAR 867.14 million as of Sept. 30, 2022, compared to SAR 761.03 million in prior-year period.
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