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Dar Alarkan Real Estate Development Company announced its interim financial results for the nine-month period ending 30 September 2023. For this period, Sales/Revenue were SAR 2,306.25 million, representing a 24.1% decrease from the previous year, and Net Profit after Zakat and Tax increased by 5.9% to SAR 416.01 million. Total Shareholders' Equity stood at SAR 20,100.62 million, a 2.80% increase from the prior year.
| Date | 6 Nov 2023 |
| Time | 11:29:37 |
| Category | Results |
| ID | 5055S |
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Dar Alarkan Real Estate Development Company announces its interim financial results for the period ending on 30-09-2023 (9 months) |
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All figures are in (Millions) Saudi Arabian Riyals |
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Element |
Current quarter |
Similar quarter for previous year |
% Change Current |
Previous quarter |
% Change |
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Sales / Revenue |
715.70 |
742.54 |
-3.6% |
826.23 |
-13.4% |
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Gross Profit (Loss) |
285.35 |
304.26 |
-6.2% |
315.59 |
-9.6% |
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Operational Profit (Loss) |
234.31 |
218.52 |
7.2% |
257.82 |
-9.1% |
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Net Profit (Loss) after Zakat and Tax |
151.91 |
79.42 |
91.3% |
146.48 |
3.7% |
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Total Comprehensive Income |
142.76 |
79.42 |
79.8% |
139.55 |
2.3% |
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Element |
Current period |
Similar period for previous year |
% change |
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Sales / Revenue |
2,306.25 |
3,039.83 |
-24.1% |
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Gross Profit (Loss) |
901.78 |
1,112.53 |
-18.9% |
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Operational Profit (Loss) |
737.22 |
875.15 |
-15.8% |
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Net Profit (Loss) after Zakat and Tax |
416.01 |
393.01 |
5.9% |
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Total Comprehensive Income |
396.58 |
393.01 |
0.9% |
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Total Share Holders Equity (after deducting minority equity) |
20,100.62 |
19,552.64 |
2.80% |
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Profit (Loss) per Share |
0.37 |
0.36 |
- |
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The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is |
The increase in net income is mainly due to the decrease in operating expenses, increase in lease revenue and the increase in share of income from associates. The increase in finance cost were fully offset with the higher non-operating income from Islamic Murabaha deposits and positively impacted the net income. |
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The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is |
The increase in net income is mainly due to the decrease in operating expenses, increase in lease revenue and the increase in share of income from associates. The increase in finance cost is partially off-set with the higher non-operating income from Islamic Murabaha deposit and impacted to the net income. |
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The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
The increase in net income is mainly due to the decrease in operating expenses, increase in lease revenue and the increase in share of income from associates. The increase in finance cost is partially off-set with the higher non-operating income from Islamic Murabaha deposit and impacted to the net income. |
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Other notes |
1. Statement of the type of external auditor's report |
Unmodified conclusion |
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2. Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion |
None |
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3. Reclassification of Comparison Items |
None |
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4. Additional Information |
None |
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