Saudi food delivery company Jahez posted an 85% year-on-year jump in H1 202 net income after zakat to SAR 53.2 million ($14.2 million), compared with SAR 28.7 million due mainly to nearly 60% higher revenues.
Jahez International Co. for Information Systems Technology said in a regulatory filing to the Saudi Tadawul on Monday that delivery fee revenue and commission revenue rose by SAR 159.5 million and SAR 81.8 million, respectively.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the period rose 94% year-on-year to SAR 66.1 million.
Jahez, the biggest locally owned food delivery group in the kingdom, listed its shares on the Saudi exchange in January this year following an IPO.
(Writing by Brinda Darasha; editing by Seban Scaria)