Jabal Omar returns to profit on improved revenue from sale of units and hospitality income
Jabal Omar has reported its financial headlines for quarter ending on 29 Dec 2017. Revenue came in at SAR311.5mn (+198% Y-o-Y); operating income at SAR121.3mn (SAR21.4mn in loss a year ago, -83.2% Q-o-Q), while gross profit was at SAR153.7mn (SAR8.5mn a year ago, -78.0% Q-o-Q). Net income came in at SAR79.3mn (SAR75.5mn net loss a year ago, -88.5% Q-o-Q). Management attributed the Y-o-Y improvement in profitability to higher revenue from sale of residential units and higher income from hospitality. (Tadawul)
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