Sumou Real Estate net profit up 2% to SAR 71.4 mln in 2020

28/02/2021 Argaam Exclusive

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Sumou Real Estate Co. reported net profit after Zakat and tax of SAR 71.4 million in 2020, an increase of 2% from SAR 69.80 million the year earlier.

 

The profit increase was driven by an 11% drop in general and administrative expenses (G&As) and a 34% slump in financing costs.

 



Financials (M)

Item 2019 2020 Change‬
Revenues 179.99 97.16 (46.0 %)
Gross Income 97.05 87.28 (10.1 %)
Operating Income 83.50 80.02 (4.2 %)
Net Income 69.80 71.38 2.3 %
Average Shares 50.00 50.00 -
EPS (Riyals) 1.40 1.43 2.3 %


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