Leejam Sports (Fitness Time) turned to a net profit after Zakat and tax of SAR 43.9 million in the first half of 2021, against a net loss of SAR 84.8 million in the year-ago period.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 222.03 | 370.42 | 66.8 % |
| Gross Income | (10.66) | 119.21 | 1217.9 % |
| Operating Income | (56.92) | 68.69 | 220.7 % |
| Net Income | (84.78) | 43.92 | 151.8 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | (1.62) | 0.84 | 151.8 % |
The company attributed the positive performance to an increase of SAR 148.4 million year-on-year (YoY) in revenue, amid higher membership and personal training revenue. Leejam also cited a decline of SAR 4.57 million YoY in finance cost, due to a lower number of loans and decreased interest rates.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 24.36 | 221.87 | 810.9 % |
| Gross Income | (62.66) | 88.73 | 241.6 % |
| Operating Income | (77.81) | 64.11 | 182.4 % |
| Net Income | (91.02) | 50.89 | 155.9 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | (1.74) | 0.97 | 155.9 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 148.54 | 221.87 | 49.4 % |
| Gross Income | 30.47 | 88.73 | 191.2 % |
| Operating Income | 4.58 | 64.11 | 1301.3 % |
| Net Income | (6.97) | 50.89 | 829.8 % |
| Average Shares | 52.38 | 52.38 | - |
| EPS (Riyals) | (0.13) | 0.97 | 829.8 % |
In Q2 2021, the company reported a net profit after Zakat and tax of 50.9 million against a net loss of SAR 91 million a year earlier, backed by higher revenue.
On a sequential basis, the company turned profitable from a net loss of SAR 7 million.
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