Financial Results : Jabal Omar turns to loss of SAR 217.3 mln in Q1 2020

Jabal Omar turns to loss of SAR 217.3 mln in Q1 2020

22/06/2020 Argaam Exclusive

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Jabal Omar Development Co. reported a net loss after Zakat and tax of SAR 217.3 million for the first quarter of 2020, compared to a net profit of SAR 1.6 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 177.62 158.60 (10.7 %)
Gross Income (11.55) (1.68) 85.5 %
Operating Income (68.73) (67.53) 1.8 %
Net Income 1.62 (237.86) (14800.9 %)
Average Shares 929.40 929.40 -
EPS (Riyals) 0.00 (0.26) (14800.9 %)

The net loss was attributed to a decline in other income.

 

When compared to the previous quarter, the developer’s net loss after Zakat and tax narrowed 37% due to lower selling and marketing expenses, as well as decline in general and administrative expenses.

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