Riyadh – Mubasher: Jabal Omar Development Company’s accumulated losses plunged to SAR 1.17 billion as of 31 December 2021, representing 13% of the company’s capital.

The company noted that the decrease in the accumulated losses was attributed to higher revenues during 2021, according to a bourse filing on Sunday.

It is worth noting that during the first quarter (Q1) of 2022, the Saudi listed firm suffered net losses after Zakat and tax of SAR 182.46 million, lower by 47.15% than SAR 345.30 million in Q1-21.