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Dar Alarkan Real Estate Development Company announced its interim financial results for the six-month period ending June 30, 2024, on August 6, 2024. For this period, sales/revenue increased by 14.8% to SAR 1,826.48 million, and net profit after Zakat and Tax rose by 20.7% to SAR 318.71 million, compared to the same period last year. Total Shareholders Equity also increased by 3.61% to SAR 20,575.53 million.
| Date | 6 Aug 2024 |
| Time | 11:17:58 |
| Category | Results |
| ID | 3859Z |
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Dar Alarkan Real Estate Development Company announces its interim financial results for the period ending on 30-06-2024 (6 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 |
961.56 |
826.23 |
16.4% |
864.92 |
11.2% |
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Gross Profit (Loss) |
383.74 |
315.59 |
21.6% |
355.80 |
7.9% |
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Operational Profit (Loss) |
317.49 |
257.82 |
23.1% |
305.22 |
4.0% |
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Net Profit (Loss) after Zakat and Tax |
165.12 |
146.48 |
12.7% |
153.59 |
7.5% |
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Total Comprehensive Income |
145.38 |
139.55 |
4.2% |
138.26 |
5.1% |
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Element |
Current period |
Similar period for previous year |
% change |
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Sales / Revenue |
1,826.48 |
1,590.56 |
14.8% |
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Gross Profit (Loss) |
739.53 |
616.43 |
20.0% |
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Operational Profit (Loss) |
622.71 |
502.91 |
23.8% |
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Net Profit (Loss) after Zakat and Tax |
318.71 |
264.10 |
20.7% |
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Total Comprehensive Income |
283.65 |
253.81 |
11.8% |
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Total Share Holders Equity (after deducting minority equity) |
20,575.53 |
19,857.94 |
3.61% |
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Profit (Loss) per Share |
0.30 |
0.24 |
- |
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Element |
Explanation |
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The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is |
The increase in sales revenue for the current quarter compared to the same quarter of the previous year is mainly due to higher property sale. |
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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 higher property sale. The Increase in operating expenses, lower income from associates and the increase in finance costs were off-set with the higher non-operating income from Islamic Murabaha deposits and impacted the net income. |
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The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is |
The increase in sales revenue for the current quarter compared to the previous quarter is mainly due to higher property sale and inclusion of project management consulting revenue. |
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The reason of the increase (decrease) in the net profit during the current quarter compared to the previous one is |
The increase in net income is mainly due to higher property sale. The increase in operating cost and lower income from associates were off-set with the increase in non-operating income from Islamic Murabaha deposits and the decrease in finance cost and impacted to the net income. |
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The reason of the increase (decrease) in the sales/revenue during the current period compared to the same period of the last year is |
The increase in sales revenue for the current period compared to the same period last year is mainly due to higher property sale and inclusion of project management consulting revenue. |
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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 higher property sale. The increase in operating expenses, higher finance cost and the lower income from associates were off-set with higher non-operating income from Islamic Murabaha deposits and impacted 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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