Alandalus Property Co. posted a 2% decline in 2022 net profit to SAR 66.8 million, from SAR 68 million in 2021. The decline was attributed to a 48% increase year-on-year (YoY) in finance costs.
The fourth-quarter net profit climbed 29% to SAR 13.5 million, from SAR 10.4 million in Q4 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 214.39 | 216.11 | 0.8 % |
| Gross Income | 145.03 | 142.41 | (1.8 %) |
| Operating Income | 96.69 | 96.13 | (0.6 %) |
| Net Income | 67.98 | 66.77 | (1.8 %) |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.73 | 0.72 | (1.8 %) |
Gross profit declined on higher cost of revenues, especially in the retail and hospitality segments.
The fourth-quarter net profit climbed 29% to SAR 13.5 million, from SAR 10.4 million in Q4 2021.
The company’s net profit fell by 25.3% from SAR 18 million in Q3 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 56.04 | 55.45 | (1.1 %) |
| Gross Income | 38.47 | 32.83 | (14.7 %) |
| Operating Income | 22.16 | 22.38 | 1.0 % |
| Net Income | 10.42 | 13.48 | 29.3 % |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.11 | 0.14 | 29.3 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 53.27 | 55.45 | 4.1 % |
| Gross Income | 35.40 | 32.83 | (7.3 %) |
| Operating Income | 23.28 | 22.38 | (3.9 %) |
| Net Income | 18.04 | 13.48 | (25.3 %) |
| Average Shares | 93.33 | 93.33 | - |
| EPS (Riyals) | 0.19 | 0.14 | (25.3 %) |
Total shareholders’ equity, after minority interest, rose to SAR 1.08 billion as of Dec. 31, 2022, compared to SAR 1.06 billion a year earlier.
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