IssuerAnnouncementDetailsV2Portlet
ActionsJabal Omar Development Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
---|---|---|---|---|---|
Sales/Revenue | 592.85 | 317.09 | 86.965 | 320.56 | 84.941 |
Gross Profit (Loss) | 254.28 | 122.25 | 108 | -5.4 | - |
Operational Profit (Loss) | 178.57 | 99.07 | 80.246 | 287.22 | -37.828 |
Net profit (Loss) | 19.02 | 11.93 | 59.43 | -200.07 | - |
Total Comprehensive Income | 19.02 | 11.93 | 59.43 | -200.07 | - |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|---|---|---|
Total Share Holders Equity (After Deducting the Minority Equity) | 12,740.44 | 12,697.08 | 0.341 |
Profit (Loss) per Share | 0.02 | 0.01 | |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Percentage of the capital (%) | Amount | |
---|---|---|---|
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
Accumulated Losses | - | - | |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Explanation |
---|---|
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The increase in revenues during the current quarter compared to the same quarter last year can be attributed mainly due to following factors: - Revenues from hotels increased by 56%, mainly due to improved hotel occupancy, and higher average room rates, this is due to inclusion of twenty one days of Ramadan (compared to nine days in the compared quarter). Furthermore, the increase is also attributable to the opening of 2 new hotels Address and Jumeirah. - Revenues from the commercial mall increased by 35% representing 9 million. - Recognizing revenues of SR 105 million related to units sold in previous periods. |
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase in net profit during the current quarter compared to the same quarter of the last year is mainly attributed to increase in company revenues by 87%. |
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The increase in revenues during the current year compared to the previous quarter can be attributed mainly due to below factors: - Revenues from hotels increased by 69%, mainly due to improved hotel occupancy, and higher average room rates, this is due to inclusion of twenty one days of Ramadan. Furthermore, the increase is also attributable to the opening of 2 new hotels Address and Jumeirah. - Recognizing revenues of 105 million related to units sold in previous periods which was SR 18 million in previous quarter. |
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the achieving net profit of in the current quarter compared to the net loss in the previous quarter is mainly attributed to increase in company revenues by 85%. |
Statement of the type of external auditor's report | Unmodified conclusion |
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | We draw attention to note 2.4 of the condensed consolidated interim financial statements, which indicates that as at the three-month period ended 31 March 2024, the Group's current liabilities exceeded its current assets by SR 611 million and the Group’s forecasted cash flows, showing a net positive cashflow position, for the next twelve months, from the reporting date, are significantly dependent upon debt financing and the Group’s ability to sell certain land parcels including those classified under Assets held for sale in the condensed consolidated statement of financial position as at 31 March 2024. As stated in note 2.4, these events and conditions along with other matters set forth therein, indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. Our conclusion is not modified in respect of this matter. |
Reclassification of Comparison Items | Certain comparative figures have been reclassified to comply with the current period presentation of the consolidated financial statements |
Additional Information | Not applicable |
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