Leejam Sports Co. reported a net loss after Zakat and tax of SAR 84.8 million for the first half of 2020, compared to a net profit of SAR 89.2 million in the same period last year.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 436.35 | 222.03 | (49.1 %) |
| Gross Income | 156.61 | (10.66) | (106.8 %) |
| Operating Income | 114.08 | (56.92) | (149.9 %) |
| Net Income | 89.19 | (84.78) | (195.1 %) |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 1.70 | (1.62) | (195.1 %) |
The loss is attributed to lower revenue from membership and personal training (PT) as well as lower rental income.
Advertising and marketing expenses increased due to a higher focus on social media in addition to lower general and administrative expenses on decrease in salaries expenses in the lockdown period.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 219.03 | 24.36 | (88.9 %) |
| Gross Income | 81.52 | (62.66) | (176.9 %) |
| Operating Income | 62.90 | (77.81) | (223.7 %) |
| Net Income | 49.59 | (91.02) | (283.5 %) |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 0.95 | (1.74) | (283.5 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 197.67 | 24.36 | (87.7 %) |
| Gross Income | 52.00 | (62.66) | (220.5 %) |
| Operating Income | 20.89 | (77.81) | (472.5 %) |
| Net Income | 6.25 | (91.02) | (1557.1 %) |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | 0.12 | (1.74) | (1557.1 %) |
The company turned to losses of SAR 91 million in Q2 2020 from a profit of SAR 49.5 million a year earlier on lower revenue.
On a quarterly basis, the company reported losses due to lower cost of revenue.
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