Mubasher: Alandalus Property Co reported a decrease of 59.5% in profits during fiscal year 2018 compared to the same period a year ago.

Initial data showed that net earnings shrank to SAR 47.97 million in FY18 from SAR 118.39 million in the previous fiscal year, according to a bourse statement on Wednesday.

According to data collected by Mubasher, Alandalus Property posted a decrease in quarterly profits to SAR 2.66 million in Q4-18 when compared to SAR 14.96 million in Q4-17.