Jazz Profits Rise 15.6% in 6 Months Amounted to 189 mln

The financial statements of Jazz Arabia Services Company showed an increase in the company’s profits in the six months ending on June 30, 2022 by 15.6%, to reach SR17.849 million, compared to SR15.440 million, net profit after zakat and tax for the same period last year.
The company said in a statement to Tadawul on Sunday, that the increase in profits during the comparison periods is due to the increase in total sales for the current period compared to the same period of the previous year, and the increase in the share of profits from investments from associate companies during the current period.
The value of sales at the end of the current period amounted to SR188.986 million, compared to SR139.889 million in the same period of the previous year, an increase of 35.1%.
The company’s share achieved a profit of SR1.13 in the six months ending on June 30, 2022, compared to a profit of SR1.02 per share in the same period in 2021.
The reason for increase in net profit is increase of total sales for the current period compared to similar period of previous year and increase in profit share from joint venture and associates during the current period.