“Jaco” deepens its losses to 3.48 million riyals in the first quarter of 2025

Al -Qassim Investment Holding Company (Jaco) increased in the first quarter of 2025 by 98.4% to 3.48 million riyals, compared to losses of 1.75 million riyals in the same quarter of 2024.
According to the company’s statement on Saudi Arabia’s circulation, the reason for increasing the loss for the current quarter is mainly due to a decrease in the value of financial assets for the purpose of sale in addition to increasing public and administrative expenses, decreased revenues and increasing the cost of revenues.
This came despite the decrease in the value of the zakat allowance that composed and the increase in other revenues, and the decrease in the expected credit losses consisting during the current quarter compared to the same quarter of the previous year.
The reason for registering a loss in the current quarter compared to the profits achieved in the previous quarter is due to the absence of a number of frequent positive elements that fundamentally affected the results of the previous quarter, the most prominent of which is achieving gains as a result of owning a portion of a land obtained as a government grant and reflected a decrease in the value of investment real estate in addition to registering capital profits from excluding real estate investments.
On the other hand, the current quarter witnessed an increase in administrative expenses, and a decrease in the value of the assets held for the purpose of sale, in addition to the decline in other revenues, while the current quarter witnessed a decrease in the expected credit losses, in addition to the high profits distributions from the investing companies in them, but the impact of these positive factors was not sufficient to compensate for the decline in other items.