Riyadh – Mubasher: Saudi Arabia’s Leejam Sports Company “Fitness Time” on Tuesday announced inaugurating a new branch for men in Abha region with a total investment of SAR 18 million ($4.8 million).

The financial impact of the new facility will appear in the first quarter of 2019, according to a statement to the Saudi Stock Exchange (Tadawul).

This facility marked the firm’s 129th branch in the kingdom and abroad.

By the end of January, the company opened two branches in Tabuk, one for men and the other for women with a total cost of SAR 34 million.

Leejam Sports’ profits during the first nine months of 2018 were nearly stable after zakat and tax, generating SAR 126.23 million, compared to SAR 125.71 million in the prior-year period.

The sports chain’s net profits after calculating Zakat and Tax grew 39.76% to SAR 53.76 million during Q3-18, from SAR 43.18 million in Q3-17.

Tadawul listed the firm’s shares in September 2018 under the symbol 1830.

By 11:40 am Saudi time, Leejam Sports’ stock levelled down 0.16% to SAR 60.50.