Financial Results : Sumou Real Estate net profit climbs 14% to SAR 81.2 mln in 2021

Sumou Real Estate net profit climbs 14% to SAR 81.2 mln in 2021

13/03/2022 Argaam Exclusive

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Sumou Real Estate Co. reported a 14% increase in net profit after Zakat and tax to SAR 81.2 million in 2021, compared to SAR 71.4 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 97.16 103.13 6.1 %
Gross Income 87.28 61.59 (29.4 %)
Operating Income 80.02 53.28 (33.4 %)
Net Income 71.38 81.21 13.8 %
Average Shares 50.00 50.00 -
EPS (Riyals) 1.43 1.62 13.8 %

The higher revenue was driven by 6% year-on-year (YoY) higher operating revenues, profit share of SAR 31.7 million from investments in associates and early settlement for outstanding loans.



Total shareholders' equity, excluding minority interest, reached SAR 454.57 million in 2021, compared to SAR 401.12 million in the year-earlier period.

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