Alandalus Property Co. reported net profit after Zakat and tax of SAR 38.2 million in H1 2021, compared to SAR 5.8 million in the prior-year period.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 73.39 | 102.91 | 40.2 % |
| Gross Income | 41.55 | 69.13 | 66.4 % |
| Operating Income | 25.02 | 47.24 | 88.8 % |
| Net Income | 5.76 | 38.19 | 563.1 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.06 | 0.41 | 563.1 % |
The profit hike was attributed to higher gross profit on increase in revenue from retail and office segments, higher share of income from associates and higher other revenue.
Meanwhile, the comparative period witnessed recording an impairment loss on assets amounting to SAR 20 million.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 31.45 | 52.36 | 66.5 % |
| Gross Income | 18.23 | 35.52 | 94.9 % |
| Operating Income | 10.99 | 23.82 | 116.8 % |
| Net Income | (6.48) | 19.23 | 396.8 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | (0.07) | 0.21 | 396.8 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 50.54 | 52.36 | 3.6 % |
| Gross Income | 33.61 | 35.52 | 5.7 % |
| Operating Income | 23.42 | 23.82 | 1.7 % |
| Net Income | 18.96 | 19.23 | 1.4 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.20 | 0.21 | 1.4 % |
The company turned to a net profit after Zakat and tax of SAR 19.2 million for Q2 2021, from a loss of SAR 6.5 million in the same quarter last year.
On a sequential basis, Q2 2021 net profit rose slightly by 1.4%.
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