Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 89.7 million for the first half of 2020, a slump of 3% year-on-year (YoY), driven by lower operating revenue, despite of higher profit share from associates.
| Item | 6m 2019 | 6m 2020 | Change |
|---|
The company’s net profit after Zakat and tax for the second quarter stood at SAR 54.6 million, rising 9% YoY, due to higher profit share from associates.
On a quarter-on-quarter basis, the profit for the current quarter jumped by 55.44%.
| Item | Q2 2019 | Q2 2020 | Change |
|---|
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 57.04 | 57.41 | 0.6 % |
| Gross Income | 40.29 | 41.22 | 2.3 % |
| Operating Income | 35.40 | 37.62 | 6.3 % |
| Net Income | 35.14 | 54.56 | 55.3 % |
| Average Shares | 177.78 | 177.78 | - |
| EPS (Riyals) | 0.20 | 0.31 | 55.3 % |
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