21 Hrs
Source:
الاقتصادية
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Source: الاقتصادية
21 Hrsالاقتصادية
Source: الاقتصادية
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Saudi company Jabal Omar posted a net loss of SAR 261.6 million in the third quarter ended in September, compared with a profit of SAR 197.9 million in the same period last year, despite a 14.2% increase in revenue. It attributed the turnaround to the absence of SAR 510 million in exceptional gains from a land sale last year, an increase of about SAR 27 million in finance costs, and SAR 21 million in fair-value losses on financial instruments. The losses were partially offset by a reduction of about SAR 107 million in impairment provisions, improved performance at its hotels and shopping centers, and the opening of the Rotana hotel.
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