Riyadh –  Jabal Omar Development Company shifted to net losses valued at SAR 151.31 million in the first nine months (9M) of 2024, versus net profits worth SAR 237.55 million in 9M-23.

Revenues stood at SAR 1.47 billion in 9M-24, higher by 46.49% year-on-year (YoY) than SAR 1 billion, according to the interim financial statements.

The loss per share hit SAR 0.13 during January-September 2024, versus earnings per share (EPS) of SAR 0.21 in 9M-23.

Financials for Q3-24

In the third quarter (Q3) of 2024, Jabal Omar suffered SAR 203.63 million in net loss, against net profits valued at SAR 305.46 million a year earlier.

The revenues increased by 9.12% YoY to SAR 256.04 million in Q3-24, versus SAR 234.62 million.

Quarterly, Jabal Omar turned to net losses in Q3-24 when compared with the SAR 33.30 million profits registered in Q2-24, while the revenues fell by 59.04% from SAR 625.12 million.

Accumulated Losses

The Saudi group incurred accumulated losses valued at SAR 115.48 million as of 30 September 2024, accounting for 1% of the company’s capital.

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