Riyadh – Mubasher: Leejam Sports Company (Fitness Time) reported a 9.2% year-on-year drop in its profits for the third quarter of 2019, recording SAR 48.81 million.
Meanwhile, revenues of the Saudi-based firm rose by 13.3% to SAR 238.37 million in Q3-19, compared to SAR 210.29 million in Q3-18, according to a bourse filing on Sunday.
The decrease in net profits is partly due to one-off non-cash adjustment in depreciation and in the provision and a net increase in all other costs.
For the first nine months of 2019, net profits of Fitness Time grew by 9.3% to SAR 138 million, versus SAR 126.23 million in the same period of FY 2018.
The company generates SAR 674.72 million during the nine-month period between January and September, 17.38% higher from SAR 574.81 million in the same period last year.
By the end of September, profit per share recorded SAR 2.63, compared to SAR 2.41 in September 2018.
