LEEJAM SPORTS-

Leejam Sports’ net income was up 28% y-o-y to SAR 456 mn in 2024, supported by one-off gains from land sales in Riyadh and favorable rent negotiations in the UAE, it said in a disclosure to Tadawul. Revenues were up 13.3% y-o-y to SAR 1.5 bn on the back of a 10% y-o-y rise in subscriptions and a 31% increase in paid programs, such as personal training and swimming.

On a quarterly basis: Net income fell 20.9% y-o-y at SAR 102 mn in 4Q 2024, weighed down by higher operating costs, lower gains from murabaha, and losses incurred by associated group entities and investments. Revenues, however, rose 2.5% during the quarter to SAR 408 mn, driven by growth in subscriptions and paid programs.

ALSO- Leejam’s board is distributing SAR 61.7 mn in dividends for 4Q 2024 at SAR 1.18 a piece, the firm said in a separate disclosure. Distribution is set for Wednesday, 5 March 2025.

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