Dar Al Arkan’s Q1 2024 profit jumps 31% to SAR 153.6M

19/05/2024 Argaam Exclusive

Content Summary:

Loading data...

Comments Analysis:

Positive: 0%
Neutral: 0%
Negative: 0%
Comments Summary:Loading data...
Please note that this news summary has been generated using artificial intelligence. It is recommended to review the original sources for complete details and to verify the accuracy of the information.
0

Dar Al Arkan Real Estate Development Co. posted a 31% rise in Q1 2024 net profit to SAR 153.6 million, compared to SAR 117.6 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 764.32 864.92 13.2 %
Gross Income 300.84 355.80 18.3 %
Operating Income 245.09 305.22 24.5 %
Net Income 117.63 153.59 30.6 %
Average Shares 1,080.00 1,080.00 -
Earnings Per Share before unusual items (Riyals) 0.11 0.14 30.6 %
EPS (Riyals) 0.11 0.14 30.6 %

The growth in net earnings was buoyed by higher sales revenue amid better real estate sales.

 

Moreover, the company reported a decline in operating costs and an increase in other non-operating income from Murabaha deposits.

 

On a sequential basis, the real estate developer’s net profit dropped by 21.1% from SAR 194.7 million in Q4 2023.

 

Total shareholders’ equity, no minority interest, rose to SAR 20.43 billion by March 31, 2024, from SAR 19.71 billion a year earlier.

View other reports

Share Price

Dar Alarkan Real Estate Development Co. (DAR ALARKAN)


Current
Market Cap (M Riyal) 23,112.00
Enterprise Value (EV) (M) 27,817.19
Shares Outstanding ((M)) 1,080.00
EPS ( Riyal) (TTM) 0.75
Book Value (BV) ( Riyal) 19.53
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.61
P/E (TTM) 28.61
Price/book 1.10
Return on Average Assets (%) (TTM) 2.3
Return on Average Equity (%) (TTM) 3.0

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

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


Comments 0

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.
Call Request

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