Financial Results : Jabal Omar turns to SAR 682.4 mln loss in H1 2020

Jabal Omar turns to SAR 682.4 mln loss in H1 2020

24/08/2020 Argaam Exclusive

View other reports

Jabal Omar Development Co. swung to a net loss after Zakat and tax of SAR 682.4 million for the first half of 2020, versus net profit of SAR 31.4 million in year-earlier period.

 

The company attributed the performance to lower revenue from shutdown of hotels and malls due to the COVID-19 pandemic in addition to decrease in other income, higher allowances for expected credit losses and finance charges.

 

The loss was partially offset by lower general and administrative expenses and selling and marketing costs.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 474.64 159.99 (66.3 %)
Gross Income 72.62 (139.75) (292.4 %)
Operating Income (57.49) (282.46) (391.3 %)
Net Income 31.37 (691.37) (2304.0 %)
Average Shares 929.40 929.40 -
EPS (Riyals) 0.03 (0.74) (2304.0 %)

The developer turned to a net loss after Zakat and tax of SAR 465.2 million in Q2 2020, versus net profit of SAR 29.7 million in Q2 2019, driven by lower revenue from shutdown of hotels and malls due to the COVID-19 pandemic.

 

When compared to the previous quarter, Jabal Omar extended its losses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 297.03 1.39 (99.5 %)
Gross Income 84.17 (138.07) (264.1 %)
Operating Income 11.24 (214.93) (2012.0 %)
Net Income 29.75 (453.50) (1624.3 %)
Average Shares 929.40 929.40 -
EPS (Riyals) 0.03 (0.49) (1624.3 %)

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.