Sport Clubs Co., set to launch IPO on TASI, posted net earnings of SAR 3.4 million by the end of Q1 2025, down 15% from SAR 4 million a year earlier.
This was attributed to lower revenues from spa subscription services segment, as well as a decline in margins due to an increase in the cost-to-revenue ratio. This was in addition to higher finance and Zakat costs.
Sequentially, the three-month net earnings dropped 76.5% from SAR 14.46 million in Q4 2024.
Shareholders’ equity, with no minority interest, reached SAR 171.1 million by the end of Q1 2025, up from SAR 146.6 million a year before.
Sport Clubs Co., set to launch IPO on TASI, posted net earnings of SAR 3.4 million by the end of Q1 2025, down 15% from SAR 4 million a year earlier.
This was attributed to lower revenues from spa subscription services segment, as well as a decline in margins due to an increase in the cost-to-revenue ratio. This was in addition to higher finance and Zakat costs.
Sequentially, the three-month net earnings dropped 76.5% from SAR 14.46 million in Q4 2024.
Shareholders’ equity, with no minority interest, reached SAR 171.1 million by the end of Q1 2025, up from SAR 146.6 million a year before.
