Riyadh – Mubasher: The net losses after Zakat and tax of Jabal Omar Development Company enlarged by 316.29% year-on-year (YoY) to SAR 311.09 million in the first half (H1) of 2022, versus SAR 74.73 million.

The company generated SAR 391.29 million in revenue during the January-June 2022 period, an annual hike of 295.80% from SAR 98.86 million, according to the initial income statements.

Furthermore, the loss per share stood at SAR 0.33 in H1-22, higher than SAR 0.08 in H1-21.

Meanwhile, the Saudi listed firm registered accumulated losses worth SAR 1.49 billion as of H1-22, accounting for 16% of the SAR 9.29 billion capital.

During the second quarter (Q2) of 2022, the company turned to net losses after Zakat and tax worth SAR 128.62 million, against net profits of SAR 270.57 million in Q2-21.

The Q2-22 revenues jumped by 264.41% YoY to SAR 281.65 million from SAR 77.29 million,

In the first three months (3M) of 2022, Jabal Omar suffered net losses after Zakat and tax of SAR 182.46 million, down 47.15% from SAR 345.30 million in the year-ago period.