+1 (216) 269 3272 Pierre@profilenewsohio.com

Jazan Energy and Development profit quadruples as food sales surge

by May 21, 2021Arab Economy0 comments

  • Revenue increase led by 10.3 percent increase in agriculture and aquaculture
  • Higher occupancy rates boost real estate revenue

RIYADH: Jazan Energy and Development Co. said first-quarter net profit increased by 299 percent year on year to SR2.1 million as sales increased led by a 10.3 percent jump in agriculture and aquaculture products.

Revenue rose 2.6 percent year on year to SR23.2 million, a decline of 6.3 percent on the previous quarter, the company said in a filing to the Saudi stock exchange. Real Estate revenue climbed 4.5 percent year on year on an increase in occupancy rates, while industrial sector revenue declined 19 percent because of the coronavirus pandemic.

A decline in sales and marketing costs and a drop in the allowance for doubtful debts allowed for higher profits from the previous quarter even as sales fell. Net profit was 81.3 percent higher compared with the final three months of 2020.

Test post

Israel's interior ministry says it has deported a Palestinian-French human rights lawyer after accusing him of security threats. Salah Hamouri, 37, was escorted onto a flight to France by police early on Sunday morning, the ministry said. A lifelong resident of...

Our Businesses

Businesses We Endorse

Submit your event

We will be happy to share your events. Please email us the details and pictures at publish@profilenewsohio.com 

Address

P.O. Box: 311001 Independance, Ohio, 44131

Call Us

+1 (216) 269 3272

Email Us

Publish@profilenewsohio.com