Leejam Sports (fitness time) financial data showed that the company’s profits in the first quarter of this year fell 84.2% year on year.

According to the results of the company for the Saudi market (Tadawul) yesterday, Sunday, the profits for the period amounted to 6.25 million riyals, compared to 39.6 million riyals for the first quarter of 2019.

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The company said in a statement to the stock exchange that the decline in profits during the comparison periods is due to a decrease in revenues by 21.21 million riyals, a decrease of 9.8% to 196.11 million riyals, compared to 217.32 million riyals .

The decline in profits was attributed to the increase in the cost of revenue by 3.45 million riyals, and a net increase in all other costs (including the cost of financing and zakat) by 8.69 million riyals.