Financial Results : JAZADCO turns to SAR 26.4M profit in H1 2025, SAR 16.7M in Q2

JAZADCO turns to SAR 26.4M profit in H1 2025, SAR 16.7M in Q2

06/08/2025 Argaam Exclusive

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Jazan Development and Investment Co. (JAZADCO) turned to a net profit of SAR 26.4 million in H1 2025, against a net loss of SAR 120.4 million a year earlier.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 40.61 71.79 76.8 %
Gross Income (36.39) 32.69 189.8 %
Operating Income (48.80) 19.16 139.3 %
Net Income (120.37) 26.38 121.9 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyals) (1.07) 0.33 130.6 %
EPS (Riyal) (2.41) 0.53 121.9 %

The company cited a 121% surge in shrimp sales to SAR 59.89 million from SAR 27.15 million a year earlier, due to healthy shrimp production and higher demand in the market.

 

Improved culture enabled higher biomass production. As a result, a positive change in the fair value of biological assets was recognized in accordance with IAS 41, amounting to SAR 9.09 million, compared to a loss of SAR 32.08 million during the same period of the previous year.

 

In addition, both local and international markets saw improved pricing during H1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 29.19 44.24 51.5 %
Gross Income (2.94) 17.07 680.1 %
Operating Income (9.66) 8.91 192.2 %
Net Income (12.49) 16.72 233.8 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyal) (0.25) 0.16 163.7 %
EPS (Riyal) (0.25) 0.33 233.8 %

The company settled its Zakat obligations for 2006-2023 (excluding 2018) for SAR 13.8 million, recording SAR 8.8 million gain from the reversal of a previous provision.

 

In Q2 2025, the company turned to net earnings of SAR 16.7 million, against losses of SAR 12.49 million a year earlier, driven by strong sales.

 

On a sequential basis, the second-quarter net earnings leapt 73.1% from SAR 9.66 million in Q1 2025.

 

Total shareholders' equity, excluding minority interest, reached SAR 336.81 million, down from SAR 348.83 million a year before.

 

Accumulated losses reached SAR 106.75 million, representing 21% of the company's capital.

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