The financial statements of Leejam Sports Company, “Fitness Time”, announced today, Monday, increased profits by 14.3% during the year ended December 31, 2019.
The company said, in a statement to the “Tadawul” financial market, that it achieved a net profit of 205.9 million riyals, compared to a profit of 180.1 million riyals in 2018.
The company achieved a net operating profit of 269.3 million riyals, compared to a net operating profit of 203.1 million riyals in 2018.
The company attributed the increase in profits during the year 2019 to recording the highest revenues in its history that amounted to 942 million riyals during the year 2019, mainly due to revenue growth of 142.13 million riyals, and this is partially offset by the increase in revenue cost by 88.16 million Saudi riyals, and an increase in other net costs Including the cost of financing and zakat in the amount of 28.14 million riyals.
It is worth noting that the company achieved a net profit of 89.2 million riyals during the first half ended June 30, 2019, compared to a profit of 72.5 million riyals in the corresponding half of 2018.