Jabal Omar Development (Jabal Omar) announced its financial highlights for 2Q19. Revenue came in at SAR297.0mn (+18.7% Y-o-Y, +67.2% Q-o-Q), gross profit at SAR84.2mn (2Q18: SAR49.5mn, 1Q19: -SAR11.6mn), operating profit at SAR188.2mn (2Q18: SAR4.5mn, 1Q19: SAR176.6mn), net profit at SAR30.1mn (2Q18:-SAR147.4mn, 1Q19: SAR1.6mn). In 1H19, revenue totalled SAR474.6mn (+21.0% Y-o-Y), gross profit SAR72.6mn (-7.8% Y-o-Y), operating profit SAR364.8mn (1H18:SAR24.5mn) and net income SAR31.6mn (1H18: -SAR275.6mn). Jabal Omar attributed the increase in profits on annual and sequential basis to higher revenue from selling residential as well as hotel units. The company is expected to finalise a new Sukuk issuance soon, according to CEO Hani Zahra. The value of the issuance was not disclosed. The company raised   SAR2bn in March with a local currency Sukuk issues in a private placement.