Dar Al Arkan net profit more than doubles to SAR 51 mln in H1 2021

17/08/2021 Argaam Exclusive

Dar Al Arkan Real Estate Development Co. reported a net profit after Zakat and tax of SAR 51 million for the first half of 2021, an over twofold increase compared to SAR 22.8 million a year earlier.

 

The profit growth was driven by higher property sales.

 

However, the decrease in lease revenue, higher finance costs, lower share of income from associates and the decline in other non-operating income from Islamic Murabaha deposits curtailed the higher net income generated from property sales.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 1,057.36 1,122.60 6.2 %
Gross Income 316.08 412.27 30.4 %
Operating Income 234.32 330.03 40.8 %
Net Income 22.78 50.96 123.7 %
Average Shares 1,080.00 1,080.00 -
EPS (Riyals) 0.02 0.05 123.7 %

In Q2 2021, Dar Al Arkan’s net profit after Zakat increased more than two times to SAR 22.4 million from SAR 10.3 million in the year-earlier period, thanks to higher property sales.

 

On a quarterly basis, net profit dropped 21.3% from SAR 28.5 million, due to lower lease revenue and an increase in operating expenses, which fully offset the rise in property sales and impacted the net income.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 464.34 567.76 22.3 %
Gross Income 156.05 207.73 33.1 %
Operating Income 120.59 162.86 35.1 %
Net Income 10.37 22.44 116.5 %
Average Shares 1,080.00 1,080.00 -
EPS (Riyals) 0.01 0.02 116.5 %

View more financial results

 

View other reports

Share Price

Dar Alarkan Real Estate Development Co.
14.12
(0.32) (2.22 %)

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)

More


Financial Ratios
Current
Market Cap (M Riyal) 15,249.60
Enterprise Value (EV) (M) 20,558.80
Shares Outstanding ((M)) 1,080.00
EPS ( Riyal) (TTM) 0.60
Book Value (BV) ( Riyal) 19.19
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 23.53
P/E (TTM) 23.53
Price/book 0.74
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 3.2
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