Dar Al Arkan Real Estate Development Co. reported a net profit of SAR 610.8 million for 2023, an increase of 38% compared to SAR 441.7 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 3,925.50 | 2,707.10 | (31.0 %) |
| Gross Income | 1,457.59 | 1,070.41 | (26.6 %) |
| Operating Income | 1,099.65 | 865.31 | (21.3 %) |
| Net Income | 441.72 | 610.76 | 38.3 % |
| Average Shares | 1,080.00 | 1,080.00 | - |
| EPS (Riyals) | 0.41 | 0.57 | 38.3 % |
This was fueled by an increase in profit share from associates and higher lease revenue. The real estate developer said higher financing costs were offset by lower operating expenses.
Q4 2023 net profit stood at SAR 194.8 million, compared to SAR 48.71 million in the prior year period.
On a quarterly basis, net profit increased 28.2% from SAR 151.91 million.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 885.67 | 400.85 | (54.7 %) |
| Gross Income | 345.06 | 168.62 | (51.1 %) |
| Operating Income | 224.51 | 128.09 | (42.9 %) |
| Net Income | 48.71 | 194.74 | 299.8 % |
| Average Shares | 1,080.00 | 1,080.00 | - |
| EPS (Riyals) | 0.05 | 0.18 | 299.8 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 715.70 | 400.85 | (44.0 %) |
| Gross Income | 285.35 | 168.62 | (40.9 %) |
| Operating Income | 234.31 | 128.09 | (45.3 %) |
| Net Income | 151.91 | 194.74 | 28.2 % |
| Average Shares | 1,080.00 | 1,080.00 | - |
| EPS (Riyals) | 0.14 | 0.18 | 28.2 % |
Total shareholders’ equity, no minority interest, stood at SAR 20.29 billion by Dec. 31, 2023, compared to SAR 19.60 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}