Financial Results : Arriyadh Development 2021 net profit up 40% to SAR 318.3 mln; Q4 loss at SAR 6.9 mln

Arriyadh Development 2021 net profit up 40% to SAR 318.3 mln; Q4 loss at SAR 6.9 mln

20/02/2022 Argaam Exclusive

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Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 318.3 million in 2021, up 40% from SAR 227.9 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 237.73 250.91 5.5 %
Gross Income 168.62 172.83 2.5 %
Operating Income 146.58 135.79 (7.4 %)
Net Income 227.93 318.31 39.7 %
Average Shares 177.78 177.78 -
EPS (Riyals) 1.28 1.79 39.7 %

The strong performance was spurred by an increase in the company’s profit share from its associates and operating and rental revenues.

 

This was despite the increase in general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 63.54 62.85 (1.1 %)
Gross Income 43.56 40.00 (8.2 %)
Operating Income 34.10 22.23 (34.8 %)
Net Income 83.14 (6.93) (108.3 %)
Average Shares 177.78 177.78 -
EPS (Riyals) 0.47 (0.04) (108.3 %)

The company turned to a net loss after Zakat and tax of SAR 6.9 million in Q4 2021 from a net profit of SAR 83.1 million in the same period a year ago.

 

Total shareholders’ equity, excluding minority interest, amounted to SAR 2.02 billion in 2021 from SAR 1.98 billion in the same period a year earlier.

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