Arriyadh Development profit down 20% to SAR 261.7 mln in 9M 2022; Q3 at SAR 65.4 mln

01/11/2022 Argaam Exclusive

Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 261.7 million in the first nine months of 2022, a 20% decline from SAR 325.2 million in the year-ago period.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 188.06 188.71 0.3 %
Gross Income 132.83 124.02 (6.6 %)
Operating Income 113.56 78.05 (31.3 %)
Net Income 325.23 261.73 (19.5 %)
Average Shares 177.78 177.78 0.0 %
EPS (Riyals) 1.83 1.47 (19.5 %)

The profit decline was attributed to lower income from Tanal Investment and Real Estate Development Co., an associate firm, by 17% on a decline in land sales despite higher average selling prices. In addition, the general and administrative expenses increased by 139%, mainly due to current lawsuit provisions of SAR 10.3 million, as well as the approved expenses by the board of directors for the transformation and institutional development.

 

The cost of revenue increased by 17% due to the essential maintenance works to improve the company’s assets, as well as improving operational efficiencies.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 61.91 63.71 2.9 %
Gross Income 41.49 40.65 (2.0 %)
Operating Income 33.44 21.83 (34.7 %)
Net Income 70.79 65.42 (7.6 %)
Average Shares 177.78 177.78 0.0 %
EPS (Riyals) 0.40 0.37 (7.6 %)

In Q3 2022, net profit fell 8% to SAR 65.4 million from SAR 70.8 million in the year before.

 

Sequentially, the company’s net profit rose 14% from SAR 57.4 million in Q2 2022.

 

Total Shareholders’ equity, after minority interest, grew to SAR 2.158 billion as of Sept. 30, 2022, from SAR 2.032 billion in the year-earlier period.

View More Financial Results

 

View other reports

Share Price

Arriyadh Development Co.
29.80
0.15 0.51 %

Arriyadh Development Co. (ARDCO)

More


Financial Ratios
Current
Market Cap (M Riyal) 5,297.84
Enterprise Value (EV) (M) 4,270.64
Shares Outstanding ((M)) 177.78
EPS ( Riyal) (TTM) 2.00
Book Value (BV) ( Riyal) 13.80
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.44
P/E (TTM) 14.88
Price/book 2.16
Return on Average Assets (%) (TTM) 13.0
Return on Average Equity (%) (TTM) 15.2
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request