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| Date | 20 Mar 2024 |
| Time | 09:51:26 |
| Category | Results |
| ID | 6028H |
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Dar Alarkan Real Estate Development Company announces its annual financial results for the period ending on 31-12-2023 (12 months) |
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All figures are in (Millions) Saudi Arabia, Riyals |
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Element |
Current year |
Previous year |
% Change |
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Sales/Revenue |
2,707.10 |
3,925.50 |
-31.0% |
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Gross Profit (Loss) |
1,070.41 |
1,457.59 |
-26.6% |
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Operational Profit (Loss) |
865.31 |
1,099.66 |
-21.3% |
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Net Profit (Loss) after Zakat and Tax |
610.76 |
441.72 |
38.3% |
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Total Comprehensive Income |
589.19 |
444.50 |
32.6% |
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Total Share Holders Equity (after deducting minority equity) |
20,291.88 |
19,604.13 |
3.51% |
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Profit (Loss) per Share |
0.57 |
0.41 |
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Element List |
Amount |
Percentage Of The Capital (%) |
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Profit (Losses) Resulting From The Change In Investment Properties Fair Value |
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- |
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Element |
Explanations |
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The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year |
The decrease in sales revenue for the current year compared to previous year is mainly due to lower property sale. |
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The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
Despite of lower property sales; the increase in net income is mainly due to the increase in share of income from associates and the increase in lease revenue. The increase in finance cost is fully off-set with the decrease in operating expenses and the higher non-operating income from Islamic Murabaha deposits and positively impacted the net income. |
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Explanations |
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Notes |
1. Statement of the type of external auditor's report |
Unmodified opinion |
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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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