Jahez Company continued to record its profits for the year 2022, as the company announced yesterday (Tuesday) in “Tadawul” its annual results for the past year, which recorded profits of 56.5 million riyals.
“Jahez” revealed that it recorded many expansions and positive results last year compared to 2021, as the delivery platforms sector recorded a growth in its profits by 56%, to reach 180.4 million riyals, due to an increase in the total revenues of the sector by 37.9%, in addition to an increase in the average number of customers by 35.5. % last year, with the average number of monthly requests per customer increasing to 4.8 requests in 2022, compared to 4.7 requests in the previous year.
Jahiz announced that it was able to expand geographically within Saudi Arabia by increasing the number of cities in which the group operates to 90 cities, with increased efficiency in operations.
And the company indicated in its annual results that the company recorded external expansion and launched operations in “Bahrain and Kuwait”, with the development of direct trade platforms “Bik and Blue Store”, which led to recording costs related to external expansion, while incurring non-recurring costs that are not expected to be incurred during Coming periods by 79.5 million riyals, and these costs are represented in the value of salaries, wages and benefits of drivers for a period before completing the necessary procedures to join the operating team, which took longer than usual for reasons beyond the control of the group in addition to other government expenses.
The report showed the high costs of the fleet and the limited productivity of newly hired drivers during their training period.
The company was able to record adjusted profits before interest, taxes, depreciation and amortization of 167.1 million riyals, which represents 10% of total revenues, and zakat expenses for the past year increased by about 28.3 million riyals, due to the addition of the initial public offering proceeds to the zakat base.
Okaz (Jeddah) @okaz_online
