Riyadh – Mubasher: Jabal Omar Development Company registered losses of SAR 217.2 million in the first quarter (Q1) ending 31 March 2020, against net profits of SAR 1.6 million in the corresponding period in 2019, the company's initial financials indicated.
Revenues edged up by 0.99% year-on-year (YoY) to reach SAR 179.39 million in the first three months of 2020, according to a stock exchange statement on Monday.
The turn to losses in Q1-20 is ascribed to the drop in other revenue.
