Arabian Centres Co. has reported a net profit after zakat and tax of SAR 227 million for the three-month period ending on June 30, 2019 (Q1 2019/20), more than double its earnings of SAR 80.9 million a year earlier.
The profit increase is attributed to higher revenue, the implementation of a yield and space optimization strategy, higher gross profit, lower impairment loss on account receivables, as well as lower financing costs.
|Gross Income||355.85||392.78||10.4 %|
|Operating Income||316.60||343.31||8.4 %|
|Net Income||77.40||223.01||188.1 %|
|Average Shares||445.00||457.86||2.9 %|
|EPS (Riyal)||0.17||0.49||180.0 %|
When compared to the previous quarter, profit fell 11.1 percent due higher impairment loss on accounts receivable, higher general and administrative expenses, and higher depreciation of right-of-use assets.
|Market Cap. (M)||13,941.25|
|Return on Average Assets||-|
|Return on Average Equity||5.56 %|