Jabal Omar Development Co. reported a net loss after Zakat and tax of SAR 217.3 million for the first quarter of 2020, compared to a net profit of SAR 1.6 million in the same period last year.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 177.62 | 158.60 | (10.7 %) |
| Gross Income | (11.55) | (1.68) | 85.5 % |
| Operating Income | (68.73) | (67.53) | 1.8 % |
| Net Income | 1.62 | (237.86) | (14800.9 %) |
| Average Shares | 929.40 | 929.40 | - |
| EPS (Riyals) | 0.00 | (0.26) | (14800.9 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 158.16 | 158.60 | 0.3 % |
| Gross Income | (43.88) | (1.68) | 96.2 % |
| Operating Income | (158.10) | (67.53) | 57.3 % |
| Net Income | (429.11) | (237.86) | 44.6 % |
| Average Shares | 929.40 | 929.40 | - |
| EPS (Riyals) | (0.46) | (0.26) | 44.6 % |
The net loss was attributed to a decline in other income.
When compared to the previous quarter, the developer’s net loss after Zakat and tax narrowed 37% due to lower selling and marketing expenses, as well as decline in general and administrative expenses.
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