Riyadh – Mubasher: Saudi Arabia-based Leejam Sports Company “Fitness Time” on Wednesday reported a 3.4% year-on-year profit hike during the full-year 2018.

Fitness Time’s net profits after calculating Zakat and Tax amounted to SAR 180.09 million ($48.01 million) from January to December 2018, up from SAR 174.19 million ($46.44 million) a year earlier, according to a bourse filing.

The firm attributed the 2018 profit rise to a 9.2% or SAR 67.1 million growth in revenues, logging SAR 799.95 million, up from SAR 732.88 million in the previous year.

Operational profits levelled up 4% to SAR 203.12 million last year, from SAR 195.88 million in 2017.

The company’s total shareholders’ equity, excluding the minority interest, reached SAR 713.67 million, compared to SAR 628.94 million.

Earnings per shares (EPS) amounted to SAR 3.44 in 2018, up from SAR 3.33.

“Certain corresponding figures in the financial statements have been rearranged and reclassified, wherever necessary, for better presentation and disclosures. However, impact of these adjustments are not material to the financial statements,” the statement added.

Fitness Time’s profits went up 11%, reaching SAR 53.86 million in the fourth quarter of 2018, compared to SAR 48.48 million during Q4-17, according to data compiled by Mubasher.

By 2:18 pm Saudi time, Fitness Time’s stock jumped 7.52% to SAR 62.90.