“Jaco” turns profitable with 2.4 million riyals in the third quarter of 2025
Al-Qassim Holding Company for Investment "Jaco" Profitability in the third quarter of 2025 amounted to 2.4 million riyals, compared to losses of 1.08 million riyals in the same quarter of last year.
According to the company’s statement on the website "Saudi Arabia trading"The reason for recording a net profit during the current quarter, compared to recording a loss in the same quarter of the previous year, is due to a decrease in zakat expense and the return of a zakat allocation from previous years, a decrease in general and administrative expenses, a decrease in the provision for expected credit losses, in addition to a decrease in the cost of revenues, despite a decrease in both activity revenues and other revenues.
The reason for the increase in net profit during the current quarter compared to the previous quarter is due to a return of a zakat allocation from previous years, a decrease in general and administrative expenses, in addition This resulted in an increase in activity revenues and other revenues and a decrease in the cost of revenues.
This came despite the fact that no distributions were recorded from profits from financial assets at fair value through profit or loss during the current quarter.
The reason for the decrease in net loss for the current period (9 months) compared to the similar period of the previous year is the decrease in zakat expense, the return of a zakat provision for previous years, and the decrease in the provision for expected credit losses, in addition to the increase in profit distributions from financial assets at fair value through profit or loss, despite recording losses from Exclusion of assets held for the purpose of sale (not present in the corresponding period), decrease in activity revenues, and increase in general and administrative expenses.
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