Dar Al-Arkan Real Estate Development reported a fall of 40% year-on-year (YoY) in net profit after Zakat and tax to SAR 304.6 million for the fiscal year 2019, on lower property sales.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 6,412.27 | 3,491.86 | (45.5 %) |
| Gross Income | 1,057.15 | 824.44 | (22.0 %) |
| Operating Income | 888.21 | 649.65 | (26.9 %) |
| Net Income | 508.81 | 304.59 | (40.1 %) |
| Average Shares | 1,080.00 | 1,080.00 | - |
| EPS (Riyals) | 0.47 | 0.28 | (40.1 %) |
Meanwhile, higher operating costs and lower income from associates were fully off-set by improved lease revenue, lower finance costs and increased non-operating income.
In Q4 2019, the real estate developer’s net profit after Zakat and tax surged to SAR 69.26 million from SAR 32.53 million in year-earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 846.09 | 840.92 | (0.6 %) |
| Gross Income | 151.86 | 212.87 | 40.2 % |
| Operating Income | 108.89 | 163.38 | 50.0 % |
| Net Income | 32.53 | 69.26 | 112.9 % |
| Average Shares | 1,080.00 | 1,080.00 | - |
| EPS (Riyals) | 0.03 | 0.06 | 112.9 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 899.41 | 840.92 | (6.5 %) |
| Gross Income | 250.56 | 212.87 | (15.0 %) |
| Operating Income | 211.39 | 163.38 | (22.7 %) |
| Net Income | 134.87 | 69.26 | (48.6 %) |
| Average Shares | 1,080.00 | 1,080.00 | - |
| EPS (Riyals) | 0.12 | 0.06 | (48.6 %) |
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