Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 144.8 million for the first nine months of 2020, up 8% compared to a profit of SAR 133.8 million in the same period last year.
| Item | 9m 2019 | 9m 2020 | Change |
|---|
The higher earnings came despite a decrease in operating revenues due to the closure of its Public Transportation Development Centre and International Development Car Auction in line with measures to limit the spread of the coronavirus.
| Item | Q3 2019 | Q3 2020 | Change |
|---|
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 57.41 | 59.74 | 4.1 % |
| Gross Income | 41.22 | 43.56 | 5.7 % |
| Operating Income | 37.62 | 39.46 | 4.9 % |
| Net Income | 54.56 | 55.09 | 1.0 % |
| Average Shares | 177.78 | 177.78 | - |
| EPS (Riyals) | 0.31 | 0.31 | 1.0 % |
The company’s net profit after Zakat and tax for the third quarter stood at SAR 55.1 million, an increase of 35% YoY, due to higher profit share from associates.
On a quarter-on-quarter basis, the Q3 2020 net profit edged up 1%.
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