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FINANCIAL NEWS
Saudi JAZADCO posts 28% jump in Q2 loss
20 Jul 2012
(MENAFN) Jazan Development Company (JAZADCO) said in an announcement on the Saudi Stock Exchange (Tadawul) that its net loss in the second quarter grew by 28 percent from last year’s loss of USD1.31 million to USD1.68 million.
The company said that operating loss reached USD2.71 million, growing from the USD868,476 loss posted in 2011’s same period.
Moreover, gross loss in the quarter was USD1.54 million, compared with a gross profit of USD48,575.
It is worth noting that JAZADCO posted a USD2.76 million net loss for the January-June period, a decline of 11 percent from a net loss of USD3.10 million in 2011’s first half.
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