Financial Results : Jabal Omar swings to SAR 52.3M profit in H1 2024; Q2 at SAR 33.3M

Jabal Omar swings to SAR 52.3M profit in H1 2024; Q2 at SAR 33.3M

04/08/2024 Argaam Exclusive

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Jabal Omar Development Co. turned to a net profit of SAR 52.3 million in H1 2024, against 67.91 million net losses in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 771.54 1,217.97 57.9 %
Gross Income 358.93 550.37 53.3 %
Operating Income 315.34 393.44 24.8 %
Net Income (67.91) 52.34 177.1 %
Average Shares 1,154.53 1,160.91 0.6 %
Earnings Per Share before unusual items (Riyals) (0.06) 0.05 176.6 %
EPS (Riyals) (0.06) 0.05 176.6 %

The second-quarter net profit amounted to SAR 33.3 million, against SAR 79.8 million in net losses in Q2 2023.

 

On a quarterly basis, net earnings jumped 75% from SAR 19.02 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 454.46 625.12 37.6 %
Gross Income 236.68 296.09 25.1 %
Operating Income 216.27 214.85 (0.7 %)
Net Income (79.84) 33.32 141.7 %
Average Shares 1,154.53 1,160.91 0.6 %
Earnings Per Share before unusual items (Riyals) (0.07) 0.03 141.5 %
EPS (Riyals) (0.07) 0.03 141.5 %

Total shareholders’ equity, excluding minority interest, rose to SAR 12.77 billion as of June 30, 2024, from SAR 12.61 billion a year earlier.

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