Jahez International Company for Information System Technology (Jahez) announces its interim consolidated Financial Results for the Period Ending on 30-06-2023 (Six Months)
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 835.62 | 739.82 | 12.95 | ||
| Gross Profit (Loss) | 184.71 | 168.81 | 9.42 | ||
| Operational Profit (Loss) | 42.47 | 61.75 | -31.22 | ||
| Net Profit (Loss) after Zakat and Tax | 62.7 | 53.22 | 17.81 | ||
| Total Comprehensive Income | 62.7 | 53.22 | 17.81 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 1,075.85 | 990.96 | 8.57 | ||
| Profit (Loss) per Share | 6.1 | 5.2 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Period Compared to Previous Period is Attributed to | The Net Profit of the Group increased by 10.2% reaching SAR 58.1m in the first half of 2023 compared to SAR 52.7m in the same period of 2022, the reasons for the change in profits according to the operating segments are as follows:
Delivery Platforms – KSA Segment: • KSA Platforms net profit 115.5m vs. last year 79.6m, a 45% growth YoY. • KSA orders grew by 17% YoY due to the group focus on expansion in 100 cities & maintaining a solid position in its current market.
Delivery Platforms – Non KSA Segment: • The Non KSA platforms segment recorded -41.1m net losses mainly driven by the expansion strategy & other customer acquisition costs in order to gain market share in the newly penetrated markets.
Logistic Segment: • With its second anniversary, the Logistic Segment recorded a positive EBITDA exceeding 7.1m benefiting from cost efficiencies initiatives & economies of scale. • Overall net losses were reduced to -10.6m which is 54% decrease vs. the same period of last year.
Others: • The Group investments in other vertical businesses has resulted in -9.1m EBITDA and net losses of -5.7m mainly due to the additional costs associated with growing the Cloud Kitchens footprint within KSA. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | Certain figures have been reclassified to comply with the current period presentation of the financial statements. |
| Attached Documents |  |
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