Jabal Omar Development Co. widened H1 2022 net loss after Zakat and tax by more than four-fold to SAR 311.1 million, compared to SAR 74.7 million in the prior-year period, as the company recorded no land sale in this period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 98.86 | 391.29 | 295.8 % |
| Gross Income | (135.20) | 71.51 | 152.9 % |
| Operating Income | (246.45) | (30.96) | 87.4 % |
| Net Income | (74.73) | (311.09) | (316.3 %) |
| Average Shares | 929.40 | 1,041.97 | 12.1 % |
| EPS (Riyals) | (0.08) | (0.30) | (271.3 %) |
Jabal Omar reported a net loss after Zakat and tax of SAR 128.62 million in Q2 2022, versus a net profit of SAR 270.57 million in a year-earlier period, driven by recording no land sale in this quarter.
On a sequential basis, the company narrowed net losses by 29.5% from SAR 182.46 million.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 77.29 | 281.65 | 264.4 % |
| Gross Income | (46.75) | 97.25 | 308.0 % |
| Operating Income | (117.27) | 42.06 | 135.9 % |
| Net Income | 270.57 | (128.62) | (147.5 %) |
| Average Shares | 929.40 | 1,041.97 | 12.1 % |
| EPS (Riyals) | 0.29 | (0.12) | (142.4 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 109.65 | 281.65 | 156.9 % |
| Gross Income | (25.74) | 97.25 | 477.8 % |
| Operating Income | (73.02) | 42.06 | 157.6 % |
| Net Income | (182.46) | (128.62) | 29.5 % |
| Average Shares | 1,041.97 | 1,041.97 | - |
| EPS (Riyals) | (0.18) | (0.12) | 29.5 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 8.315 billion by the end of H1 2022, compared to SAR 6.913 billion in the year-earlier period.
Accumulated losses stood at 16%, or SAR 1.491 billion, of capital by the end of H1 2022.
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