AI Summary
Amlak International for Real Estate Finance reported a net profit of SAR 48.03 million (SAR 0.53 EPS) for the first 9 months of 2019, compared to a net profit of SAR 69.47 million a year earlier.
The 31% profit decline came as Amlak allocated a zakat provision worth SAR 16.7 million in the nine-month period, compared to null in the same period of 2018.
In addition, the nine-month figures included a credit loss provision of SAR 6 million, compared to null a year earlier.
General and administrative expenses rose 13% year-on-year to SAR 53.42 million in the nine-month period.
Amlak distributed SAR 67.9 million in dividends in September 2019.
Saudi Arabia’s market regulator, the Capital Market Authority (CMA), approved on Wednesday the listing of a 30% stake, or 27.180 million shares of Amlak International for Real Estate Finance Company.
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Income Statement |
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Period |
September 2018 |
September 2019 |
Variation |
|
Gross income from Murabahah Contracts (SAR mln) |
195.5 |
222.0 |
+13% |
|
Net Profit (SAR mln) |
69.47 |
48.03 |
(31%) |
|
Average number of shares (mln shares) |
90.6 |
90.6 |
-- |
|
EPS (SAR/share) |
0.77 |
0.53 |
(31%) |
|
Net Profit Since 2018 |
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|
Period |
Net profit after Zakat (SAR mln) |
EPS (SAR/share) |
|
2019 |
||
|
Q3 |
24.8 |
0.27 |
|
Q2 |
19.7 |
0.22 |
|
Q1 |
3.6* |
0.27 |
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2018 |
||
|
Q3 |
22.9 |
0.25 |
|
Q2 |
22.6 |
0.25 |
|
Q1 |
23.9 |
0.27 |
*Zakat provisions reached SAR 16 mln.
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