The financial statements of Jabal Omar Development Company revealed that the company turned into a loss in the second quarter of this year, amounting to 128.62 million riyals, compared to profits for the same period last year, which amounted to 270.57 million riyals.
The company said in a statement to the Saudi market (Tadawul), today, Sunday, that the negative shift in results during the comparison periods is due to the failure to sell any land during the second quarter of this year.
The company's total sales in the second quarter of this year amounted to 281.65 million riyals, compared to 77.29 million riyals in the same period of the previous year, a significant increase of 110%.
In the first half of this year, the company achieved significant losses of more than 311 million riyals, compared to losses of 74.73 million riyals in the same period of 2021, with a significant increase in losses by 316.3%.
