Jazan Development Company posted a loss of SAR 50.2m (SAR 1/share) in Q4 of 2013, according to the audited financial statement.

The company previously reported, in its preliminary financial results of the year 2013, a loss of SAR 27m for Q4. The company didn’t provide any information about the reason behind this change.

The following table shows Jazan’s quarterly net profit for the last 2 years:

Jazadco Net Profits

EPS(SAR)

  

Net Profit (SAR mn)

Period
   

2012

  

(0.08)

  

(4.0)                          

                Q1

(0.13)

  

(6.3)

Q2

(0.19)

  

(9.7)

Q3

0.03

  

1.7

Q4
   

2013

  

0.44     

  

21.9

 Q1

2.68

  

1.134

Q2

(0.10)

  

(5.2)

Q3

(1.00)

  

(50.2)

Q4
 

 

The audited results showed a profit of SAR 100.6m in 2013 (SAR 2.01/share) compared to SAR 18.3 losses for 2012.

Income Statement

Change

Percentage

2013

2012

Period

        --

100.6

(18.3)

Net profit (SAR mn)

        --

50

50

 Average number of shares in million

       --

2.01

(0.37)

EPS(SAR/share)
 

 

2013 results included a capital gain of SAR 170m on sale of a plot of land, excluding that, the company results would be a loss of SAR 69m.

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