Leejam Sports Company (Fitness Time) turned to a net profit after Zakat and tax of SAR 120.1 million for the first nine months of 2021, versus a net loss of SAR 58.2 million in year-earlier period.
The company attributed the profit to higher revenue by SAR 190.74 million, driven by increase in membership and personal training revenue and rise in rental and other income.
This was partly offset by higher cost of revenue and rise in all other costs, including finance and Zakat.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 433.51 | 624.25 | 44.0 % |
| Gross Income | 58.05 | 247.66 | 326.7 % |
| Operating Income | (11.36) | 158.38 | 1493.7 % |
| Net Income | (58.21) | 120.12 | 306.4 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | (1.11) | 2.29 | 306.4 % |
The third-quarter net profit after Zakat and tax surged more than twofold year-on-year (YoY) to SAR 76.2 million, backed by a SAR 50.03 million increase in revenue and lower cost of revenue.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 211.48 | 253.84 | 20.0 % |
| Gross Income | 68.71 | 128.46 | 87.0 % |
| Operating Income | 45.56 | 89.70 | 96.9 % |
| Net Income | 26.57 | 76.20 | 186.8 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 0.51 | 1.45 | 186.8 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 221.87 | 253.84 | 14.4 % |
| Gross Income | 88.73 | 128.46 | 44.8 % |
| Operating Income | 64.11 | 89.70 | 39.9 % |
| Net Income | 50.89 | 76.20 | 49.7 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 0.97 | 1.45 | 49.7 % |
On a sequential basis, the company’s Q3 2021 net profit jumped 49.7% on higher revenue.
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