Financial Results : Arriyadh Development net profit falls 18% in Q1 2020

Arriyadh Development net profit falls 18% in Q1 2020

20/04/2020 Argaam Exclusive

View other reports

Arriyadh Development Co. (ARDCO) posted a net profit after Zakat and tax of SAR 35 million for Q1 2020, a decline of 18% year-on-year (YoY), as compared to SAR 43 million in the same quarter last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 61.53 57.04 (7.3 %)
Gross Income 45.10 40.29 (10.7 %)
Operating Income 41.96 35.40 (15.6 %)
Net Income 42.84 35.14 (18.0 %)
Average Shares 177.78 177.78 0.0 %
EPS (Riyals) 0.24 0.20 (18.0 %)

The company attributed the decline to lower revenues of the operating segment amid the government’s COVID-19 precautionary measures, as well as higher general and administrative expenses (G&As) due to IFRS 9 implementation and a provision for doubtful debts.

 

When compared to Q4 2019, net profit after Zakat and tax increased 9.6% on lower G&As despite a decline in operating segment revenues resulting from the COVID-19 measures.

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.