Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

Jahez posts profit of US$14.2m

The increase in orders led to higher delivery and operational costs for the company.
By TRENDS Desk
September 5, 2022 12:18 pm
  • Jahez said the profit surge was mainly driven by a revenue jump of 60 percent to $207 million, from $129.60 million in the corresponding period last year
  • Orders made through the app surged by 46 percent to 31.5 million during the six months, as the average number of users soared by 48 percent

Riyadh, Saudi Arabia— Jahez, Saudi food delivery platform, has posted an 85 percent surge in profit to US$14.2 million for the first half of 2022, shored up by a boost in demand for food on its app.

The company made a profit of $14.2 million as against $7.65 million in the year-ago period, according to a stock exchange filing.

The profit surge was mainly driven by a revenue jump of 60 percent to $207 million, from $129.60 million in the corresponding period last year, Jahez said.

Orders made through the app surged by 46 percent to 31.5 million during the six months, as the average number of users soared by 48 percent.

The increase in orders led to higher delivery and operational costs for the company, but it managed to almost double its restaurants to 7,879, from 4,742 in June last year.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]