Jabal Omar narrows H1 2021 net loss to SAR 74.7 mln on land sale

15/08/2021 Argaam Exclusive

Jabal Omar Development Co. (JODC) trimmed net loss after Zakat and tax to SAR 74.7 million in H1 2021, compared to SAR 691.4 million in the year-earlier period, driven by an increase in other income due to gain recognized on sale of a land plot in Jabal Omar project.  



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 159.99 98.86 (38.2 %)
Gross Income (139.75) (135.20) 3.3 %
Operating Income (282.46) (246.45) 12.7 %
Net Income (691.37) (74.73) 89.2 %
Average Shares 929.40 929.40 -
EPS (Riyals) (0.74) (0.08) 89.2 %

The real estate developer reported net profit of SAR 270.6 million in Q2 2021, versus net loss of SAR 453.5 million in the year earlier period, due to higher revenue and increase of other income.

 

On a sequential basis, JODC turned to profit in Q2 2021, from SAR 345.3 million loss in Q1 2021.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 1.39 77.29 5464.1 %
Gross Income (138.07) (46.75) 66.1 %
Operating Income (214.93) (117.27) 45.4 %
Net Income (453.50) 270.57 159.7 %
Average Shares 929.40 929.40 -
EPS (Riyals) (0.49) 0.29 159.7 %

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Share Price

Jabal Omar Development Co.
21.48
(0.94) (4.19 %)

Jabal Omar Development Co. (JABAL OMAR)

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Financial Ratios
Current
Market Cap (M Riyal) 24,799.30
Enterprise Value (EV) (M) 36,411.20
Shares Outstanding ((M)) 1,154.53
EPS ( Riyal) (TTM) (0.30)
Book Value (BV) ( Riyal) 11.04
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.95
Return on Average Assets (%) (TTM) (1.26 )
Return on Average Equity (%) (TTM) (2.74 )
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