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.
| 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.
| 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 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 21.57 | 77.29 | 258.2 % |
| Gross Income | (88.45) | (46.75) | 47.1 % |
| Operating Income | (129.18) | (117.27) | 9.2 % |
| Net Income | (345.30) | 270.57 | 178.4 % |
| Average Shares | 929.40 | 929.40 | - |
| EPS (Riyals) | (0.37) | 0.29 | 178.4 % |
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