Jahez projects profits from ops outside Saudi Arabia, local market share at 30%: CFO

Jahez International Company for Information Systems Technology expects to turn profitable from its operations outside Saudi Arabia before year-end, having recently trimmed losses in foreign markets, approaching break-even, CFO Hani Al-Jallouli told Asharq Business.

The acquisition of a majority stake in Qatar-based Snoonu Corporation Holding LLC is slated for completion in late Q3 or Q4 of this year, once the legalities are finalized, the top executive stated.

Jahez, according to Al-Jallouli, is focused on maintaining its market share of approximately 30% in Saudi Arabia. This is through the offering of competitive prices, albeit these efforts have already led to higher marketing expenses and squeezed profits in Q2 2025.

He explained that the Saudi-listed company emphasized tactical investments that are aimed at attracting customers, amidst fierce competition in the Saudi market.

However, a time window for when dividend payouts could be possible cannot be determined at present, given the extensive focus dedicated to business growth, the CFO concluded.