Alandalus posts 78% profit drop to SAR 14.3 mln for 2020

04/03/2021 Argaam Exclusive

View other reports

Alandalus Property Co. reported net profit after Zakat and tax of SAR 14.3 million in 2020, down 78% from SAR 64.8 million in the previous year.

The profit decline was driven by lower revenue from retail and hospitality segments, which were impacted by the coronavirus crisis. In addition, the firm noted a decrease in gross profit, and lower profit share from associates.

The company also cited impairment losses on investment property and PPE of SAR 31.8 million, and higher finance cost pertaining to the acquisition of a new office complex in Riyadh in June 2020.

Financials (M)

Item	2019	2020	Change‬
Revenues	176.06	167.82	(4.7 %)
Gross Income	102.40	95.66	(6.6 %)
Operating Income	66.93	54.09	(19.2 %)
Net Income	64.82	14.34	(77.9 %)
Average Shares	93.33	93.33	-
EPS (Riyals)	0.69	0.15	(77.9 %)

The Q4 2020 net profit after Zakat and tax also slumped by 63% year-on-year (YoY) to SAR 5.5 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	51.04	57.45	12.6 %
Gross Income	31.14	37.08	19.1 %
Operating Income	20.42	20.02	(2.0 %)
Net Income	14.83	5.45	(63.2 %)
Average Shares	93.33	93.33	-
EPS (Riyals)	0.16	0.06	(63.2 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	36.98	57.45	55.3 %
Gross Income	17.02	37.08	117.9 %
Operating Income	9.05	20.02	121.2 %
Net Income	3.13	5.45	74.0 %
Average Shares	93.33	93.33	-
EPS (Riyals)	0.03	0.06	74.0 %

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

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

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

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.

×