Riyadh – Mubasher: Leejam Sports Company reported its condensed interim financial results for the second quarter of 2019.

Net profits after zakat and tax jumped by 24.7% to SAR 49.59 million in Q2-19, compared to SAR 39.76 million in Q2-18, according to a bourse filing on Sunday.

Revenues of the Saudi firm increased by 17% to SAR 219.03 million during the three-month period between April and June, from SAR 186.99 million in the same period of the prior year.

The rise in profits was attributed to the increase in revenue by SAR 32 million, partly offset by the increase in the cost of revenue by SAR 17.7 million, and the net increase in all other costs (including finance cost and zakat) by SAR 4.5 million.

For the first half of 2019, Leejam Sports’ net profits rose by 23% to SAR 89.19 million, versus SAR 72.47 million in H1-18.

Total revenues jumped by 19.7% year-on-year to SAR 436.35 million during the first six months of 2019.

Profit per share stood at SAR 1.7 by the end of June, against SAR 1.38 in the same period a year ago.