Al-Shallash: Dar Al-Arkan to post higher profits going forward

Dar Al-Arkan is set to post better profits than in the third quarter of 2014, Chairman Yusuf Al-Shallash told CNBC Arabiya.
 

The company posted SAR 89.9 million profits in the third quarter, 51 percent lower than the same period of last year.
 

Al-Shallash said the higher cost of funds and consultancy fees adversely impacted results, besides seasonal factors such as the summer vacation and Eid break.
 

The company’s total sales reached SAR 700 million, while revenues from rented assets grew by 7.5 percent in the third quarter, and 15 percent in the first nine months of 2014.