Jazan Energy and Development Company’s (Jazadco) net profits after Zakat and tax climbed by 186.97% year-on-year (YoY) in the first half (H1) of 2022 to SAR 28.33 million from SAR 9.87 million.

The profit per share came in at SAR 0.57 in H1-22, compared with SAR 0.2 in H1-21, according to a stock exchange statement on Tuesday.

Revenues for the first six months (6M) of 2022 went up by 2.7% YoY to SAR 44.15 million, compared to SAR 42.99 million.

During the second quarter (Q2) of 2022, the company reported a 214.33% annual jump in its net profit after Zakat and tax at SAR 24.64 million from SAR 7.84 million.

On the other hand, revenues dropped by 9.97% YoY during Q2-22 to reach SAR 17.84 million, compared with SAR 19.82 million.

During the January-March period in 2022, Jazadco registered a 75.83% YoY increase in its net profits to SAR 3.56 million, compared to SAR 2.02 million.