Riyadh – Mubasher: The net profits after Zakat and tax of Jazan Energy and Development Company (Jazadco) hiked by 42.98% to SAR 17.34 million in 2022, compared to SAR 12.12 million in 2021.

Based on the annual financial results, the revenues hit SAR 77.89 million during January-December 2022, a 20.93% year-on-year (YoY) decline from SAR 98.50 million.

The earnings per share (EPS) increased to SAR 0.33 last year from SAR 0.23 in 2021.

In the first nine months (9M) of 2022, Jazadco achieved SAR 27.24 million in net profit after Zakat and tax, an annual leap of 123.03% from SAR 12.21 million.

Meanwhile, the accumulated losses reached SAR 18.43 million as of 30 September 2022, which equaled 4% of the SAR 500 million capital.