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Fitness Time turns profitable in H1-21, to pay SAR 23.5m dividends

Fitness Time turns profitable in H1-21, to pay SAR 23.5m dividends
Earnings per share stood at SAR 0.84 in H1-21
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Riyadh – Mubasher: Leejam Sports Company (Fitness Time) has turned to profits after Zakat and tax of SAR 43.92 million in the first half (H1) of 2021, against losses of SAR 84.78 million in the same period last year.

Earnings per share stood at SAR 0.84 in H1-21, versus a loss per share of SAR 1.62 in H1-20, according to the financial results on Sunday.

Revenues increased by 66.8% to SAR 370.42 million in H1-21 from SAR 222.03 million in H1-20.

During the second quarter (Q2) of 2021, Fitness Time achieved net profits worth SAR 50.89 million, against net losses worth SAR 91.02 million in Q2-20.

Revenues surged by 810.7% to SAR 221.87 million in Q2-21 from SAR 24.36 million in Q2-20.

On a quarterly basis, the company turned to profits in Q2-21 against losses of SAR 6.97 million in Q1-21, and the revenues increased by 49.36 million from SAR 148.54 million.

In a separate filing, Fitness Time announced a cash dividend of SAR 0.45 per share for 52.38 million shares eligible for distribution.

The company will pay a total of SAR 23.57 million as dividends for H1-21 on 26 August for the shareholders of record date equivalent to 15 August.