Riyadh – Mubasher: Leejam Sports Company (Fitness Time) generated net profits after Zakat and tax worth SAR 135.10 million in the first half (H1) of 2023, marking a 64.76% hike from SAR 82 million in H1-22.
Revenues surged by 24.56% year-on-year (YoY) to SAR 578.70 million as of 30 June 2023 from SAR 464.60 million, according to the interim consolidated financial results.
During the first six months (6M) of 2023, the earnings per share (EPS) stood at SAR 2.58, up from SAR 1.57 in the year-ago period.
Income Statements for Q2-23
In the second quarter (Q2) of 2023, Fitness Time recorded SAR 72.50 million in net profit after Zakat and tax, an annual leap of 101.39% from SAR 36 million.
The firm posted revenues valued at SAR 301.80 million in the April-June 2023 period, higher by 29.53% YoY than SAR 233 million.
On a quarterly basis, the profits in Q2-23 jumped by 15.63% from SAR 62.70 million as of 31 March 2023, while the revenues increased by 8.95% from SAR 277 million.
Adnan Al Khalaf, CEO of Fitness Time, commented: “Leejam has delivered an exceptionally robust performance for H1 this year. The management’s growth, resilience, and shareholder value strategy has enriched the Group’s business across multiple health, wellness, and fitness vertical markets in H1.”
“Following the addition of ten concept studios, strategic partnerships, new products, and services, Leejam is meeting an important part of its diversification strategy, ensuring that it maintains a very clear point of difference and is well-placed for continued growth throughout the rest of 2023,” Al Khalaf indicated.
Dividends for Q2-23
The company’s board approved cash dividends of SAR 39.28 million, representing 7.50% of the capital, for Q2-23.
A dividend of SAR 0.75 per share will be disbursed among 52.38 million eligible shares.
The eligibility and payment dates for the dividends will be 3 and 15 August 2023, respectively.
Last May, Fitness Time distributed SAR 33.52 million as cash dividends for Q1-23.
