Riyadh – Mubasher: Arriyadh Development Company saw a 34.7% annual increase in profits over the third quarter (Q3) of 2020 at SAR 55.1 million.  

This increase was supported by gains from the firm’s results from associates, according to a bourse disclosure on Sunday.

However, the company saw a slight decrease in its operating revenue during this quarter as its public transportation centre and auto auction market were affected by the repercussions of the coronavirus pandemic.

Revenues were down by 2.5% annually during the July-September period to reach SAR 59.7 million.

In the first nine months of the year, the real estate developer’s earnings grew by 8.2% annually to SAR 144.8 million.