Sumou Real Estate reports 4% profit rise in H1 2019

11/02/2020 Argaam

 

Sumou Real Estate Development Co., which is expected to list on the Nomu-Parallel Market, posted a net profit of SAR 30.4 million (SAR 1.21 per share), up 4% year-on-year (YoY) in the first 6 months of 2019.

 

Income Statement (SAR mln)

Period

2018

2019

Variation (%)

Sales (SAR mln)

119.5

95.3

(20%)

Net profit (SAR mln)

29.2

30.4

+4%

Average number of shares (mln shares)

25.0

25.0

--

EPS (SAR/share)

1.17

1.21

+4%

 

The growth was driven by an increase in gross profit margins, from 33.8% to 46.4% in H1 2019, due to lower cost of revenue from realty projects.

 

Income Statement (SAR mln)

Period

2017

2018

 

Sales (SAR mln)

113.2

257.7

 

Net profit (SAR mln)

64.9

67.5

 

Average number of shares (mln shares)

25.0

25.0

 

EPS (SAR/share)

2.60

2.70

 

 

Balance Sheet Since 2017 (SAR mln)

Period

2017

2018

June 2019

Current assets

38.4

41.6

27.2

Non-current assets

526.5

531.3

558.4

Total assets

564.9

572.8

585.5

Short-term loans

40.0

20.0

10.0

Current liabilities

96.7

33.4

21.9

Long-term loans

160.0

150.0

130.0

Non-current liabilities

163.3

215.9

210.4

Total liabilities

260.0

249.3

232.3

Capital

250.0

250.0

250.0

Shareholders’ equity

304.9

323.5

353.2

 

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