Riyadh – Mubasher: Jabal Omar Development Company posted on Sunday net losses of SAR 75.5 million in the first quarter, ended on Rabi’ Al-awwal 1437 Hijri year, versus a net profit of SAR 145.2 million in the same period of 1436.
The company attributed Q1 losses to lower sales of residential units, provisions for bad loans and higher general and administrative expenses.
