JAZADCO profit down 84% to SAR 1.8M in 2023; incurs SAR 16.9M loss in Q4

31/03/2024 Argaam Exclusive

View other reports

Jazan Development and Investment Co.’s (JAZADCO) profit decreased to SAR 1.8 million by the end of 2023, down 84% compared to a SAR 10.7 million profit a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	77.89	84.33	8.3 %
Gross Income	15.79	22.27	41.0 %
Operating Income	(22.33)	(4.97)	77.7 %
Net Income	10.71	1.76	(83.6 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.21	0.04	(83.6 %)

JAZADCO said it generated profit from the sale of a fixed asset, namely land in the Khabat Al-Falaq area in Jazan, leading to net earnings of SAR 31 million in 2022.

The profit decline in 2023 came despite an increase in sales compared to 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	20.50	12.04	(41.2 %)
Gross Income	(1.70)	(2.17)	(27.5 %)
Operating Income	(17.46)	(12.43)	28.8 %
Net Income	(16.54)	(16.89)	(2.1 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	(0.33)	(0.34)	(2.1 %)

Item	Q3 2023	Q4 2023	Change‬
Revenues	13.01	12.04	(7.4 %)
Gross Income	6.07	(2.17)	(135.7 %)
Operating Income	3.03	(12.43)	(510.5 %)
Net Income	5.47	(16.89)	(409.0 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.11	(0.34)	(409.0 %)

JAZADCO incurred SAR 16.9 million in net loss in Q4 2023, deepening from a net loss of SAR 16.54 million in Q4 2022.

Sequentially, the company turned to a net loss in Q4 from a net profit of SAR 5.47 million in Q3 2023.

Total shareholders’ equity, after minority interest, stood at SAR 507.87 million as of Dec. 31, 2023, from SAR 513.23 million a year earlier.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×