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Jazadco achieves SAR 2m net profit in Q1

Jazadco achieves SAR 2m net profit in Q1
Earnings per share reached SAR 0.04 in Q1-21
JAZADCO
6090
0.31% 13.00 0.04

Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) recorded a leap of 299% in net profit after Zakat and tax to SAR 2.08 million during the first quarter (Q1) of 2021 from SAR 523,609 in the same period a year earlier.

Earnings per share reached SAR 0.04 in Q1-21, compared to SAR 0.01 in Q1-20, according to the interim financial results.

Revenues increased 2.5% to SAR 23.17 million in Q1-21, compared with SAR 22.59 million in Q1-20.

Quarter-on-quarter (QoQ), the net profit in Q1-21 was 81% higher than SAR 1.15 million achieved during the fourth quarter (Q4) of 2020.

The revenues in the first three months of 2021 meanwhile were lower by 6% when compared to SAR 24.74 million in Q4-20.