Alandalus Property Co. reported net profit after Zakat and tax of SAR 19 million in Q1 2021, up 55% from SAR 12.2 million in the same period last year.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 41.94 | 50.54 | 20.5 % |
| Gross Income | 23.33 | 33.61 | 44.1 % |
| Operating Income | 14.03 | 23.42 | 66.9 % |
| Net Income | 12.24 | 18.96 | 54.9 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.13 | 0.20 | 54.9 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 57.45 | 50.54 | (12.0 %) |
| Gross Income | 37.08 | 33.61 | (9.3 %) |
| Operating Income | 20.02 | 23.42 | 17.0 % |
| Net Income | 5.45 | 18.96 | 247.9 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.06 | 0.20 | 247.9 % |
The increase in earnings was attributed to higher revenues, along with lower cost of revenue. The firm also noted higher operating profit and other income, in addition to lower selling and marketing expenses.
This was offset by an increase in finance cost and Zakat.
When compared to the previous quarter, the firm’s Q1 2021 net profit after Zakat and tax jumped 248%.
The total shareholders equity (after deducting minority equity) stood at SAR 1.072 billion in Q1 2021, down 4.38% compared to SAR 1.121 billion in Q1 2020.
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