Jabal Omar turns to SAR 393.8 mln losses in FY19

31/03/2020 Argaam Exclusive

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Share Price

Jabal Omar Development Company
24.52
(0.88) (3.46 %)

Jabal Omar Development Company (JABAL OMAR)

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Jabal Omar Development Co. reported a net loss after Zakat and tax of SAR 393.8 million in the fiscal year 2019 from a net profit of SAR 193.8 million a year earlier, driven by lower sales revenue.



Financials (M)

Item 2018 2019 Change‬
Revenues 1,962.64 885.22 (54.9 %)
Gross Income 797.84 150.84 (81.1 %)
Operating Income 535.36 (117.82) (122.0 %)
Net Income 193.78 (635.10) (427.7 %)
Average Shares 929.40 929.40 -
EPS (Riyals) 0.21 (0.68) (427.7 %)

The real estate developer said in a bourse statement that it considers novel coronavirus (COVID-19) outbreak to be a non-adjusting post balance sheet event.

 

The company is still in the process of assessing the financial impact of COVID 19 on the revenue from its hotel operations.

 

In Q4 2019, the company reported a net loss of SAR 344.6 million, compared to a net profit of SAR 1.4 million in the same period of 2018.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 247.61 158.16 (36.1 %)
Gross Income 46.01 (43.88) (195.4 %)
Operating Income (12.71) (158.10) (1,144.4 %)
Net Income 1.48 (429.11) (29172.6 %)
Average Shares 929.40 929.40 -
EPS (Riyals) 0.00 (0.46) (29172.6 %)

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