Banan Real Estate H1 2021 profit rises 53% to SAR 12.9 mln

31/08/2021 Argaam Exclusive

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Share Price

Banan Real Estate Co.
5.80
(0.01) (0.17 %)

Banan Real Estate Co. (BANAN)

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Banan Real Estate Co. reported a net profit after Zakat and tax of SAR 12.9 million in H1 2021, an increase of 53%, compared to SAR 8.5 million in the year-earlier period.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 6.25 8.92 42.7 %
Gross Income 4.97 7.66 54.1 %
Operating Income 3.35 6.03 80.2 %
Net Income 8.46 12.91 52.6 %
Average Shares 200.00 200.00 -
EPS (Riyals) 0.04 0.06 52.6 %

The profit jump was driven by higher profit share from associates and joint ventures, in addition to higher rental income.



The company obtained the Capital Market Authority’s (CMA) approval to list shares on Nomu Parallel Market on June 28, while shares began trading on Aug. 11.

 

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