Arab Press

بالشعب و للشعب
Wednesday, Sep 17, 2025

Jahez net profit soars 85% to SR53.2 million in first half of 2022

Jahez net profit soars 85% to SR53.2 million in first half of 2022

Jahez International Company for Information System Technology (Jahez) posted a net profit, after Zakat and tax, amounting to SR 53.2 million during the first half of 2022, a jump of 85 percent from SR 28.7 million a year earlier.

The profit surge was mainly attributed to a 59.9 percent surge year-on-year (YoY) in revenue, due to the increase in delivery fee and commission revenue by SR 159.5 million and SR 81.8 million respectively.

The higher revenue was driven by a 36.5 percent YoY rise in gross merchandize value (GMV) to SR 2 billion. The average take rate increased in the first half to 12.3 percent, compared to 11.2 percent in first half of 2021. Gross profit also soared 90 percent despite a 52.6 percent increase in the cost of revenue.

Operating profit skyrocketed 91.2 percent YoY basis. Earnings before interest, tax, depreciation and amortization grew to SR 66.1 million, from SR 34.1 million in the first half of 2021.

Total shareholders’ equity, excluding minority interest, rose to SR 990.96 million as of June 30, 2022, from SR187.27 million a year earlier.

There was an increase in Gross Merchandize Value (GMV) in the first half 2022 by 36.5 percent reaching SR 2 billion due to the increase in orders number in the first half 2022 by 45.5percent to reach 31.5 million orders, compared to 21.6 million orders in the corresponding period of last year. This is due to the increase by 48.1 percent in average users number in the first half 2022, compared to the corresponding period of last year, despite the slight decrease in monthly average orders per user to reach 4.5 orders in the first half 2022, compared to 4.6 orders in the corresponding period of last year. The GMV per order decreased in the first half 2022 reaching SR 63.2 compared to SR 67.4 in the corresponding period of last year.

- The average take rate increased in the first half 2022 to reach 12.3 percent, compared to 11.2 percent in the corresponding period of last year, in addition to increase in average merchant number to reach 7,879 restaurants in the first half 2022 compared to 4,742 restaurants in the corresponding period of last year.

The group’s gross profit increased by 90 percent despite the increase in cost of revenue by 52.6 percent which is mainly due to the increase in total delivery costs and operations which is in line with the number of orders during the first half 2022.

There was also a jump in operating profit by 91.2percent despite the increase in Research & Development expenses by 226.4 percent in line with the company strategy to invest in the platforms development and the user experience improvement. The increase of 243.7 percent in general & administrative expenses reflect the increase in head count in line with the growth and geographical expansion as well as the expansion of the subsidiaries activities and especially Supportive Solutions Company for Logistic Services (Logi).

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
×