Financial Results : Leejam posts net profit of SAR 43.9 mln in H1 2021

Leejam posts net profit of SAR 43.9 mln in H1 2021

08/08/2021 Argaam Exclusive

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Leejam Sports (Fitness Time) turned to a net profit after Zakat and tax of SAR 43.9 million in the first half of 2021, against a net loss of SAR 84.8 million in the year-ago period.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 222.03 370.42 66.8 %
Gross Income (10.66) 119.21 1217.9 %
Operating Income (56.92) 68.69 220.7 %
Net Income (84.78) 43.92 151.8 %
Average Shares 52.38 52.38 -
Earnings Per Share before unusual items (Riyals) (1.61) 0.84 152.1 %
EPS (Riyals) (1.62) 0.84 151.8 %

The company attributed the positive performance to an increase of SAR 148.4 million year-on-year (YoY) in revenue, amid higher membership and personal training revenue. Leejam also cited a decline of SAR 4.57 million YoY in finance cost, due to a lower number of loans and decreased interest rates.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 24.36 221.87 810.9 %
Gross Income (62.66) 88.73 241.6 %
Operating Income (77.81) 64.11 182.4 %
Net Income (91.02) 50.89 155.9 %
Average Shares 52.38 52.38 -
Earnings Per Share before unusual items (Riyals) (1.73) 0.97 156.2 %
EPS (Riyals) (1.74) 0.97 155.9 %

In Q2 2021, the company reported a net profit after Zakat and tax of 50.9 million against a net loss of SAR 91 million a year earlier, backed by higher revenue.

 

On a sequential basis, the company turned profitable from a net loss of SAR 7 million.

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