Riyadh – Mubasher: Arriyadh Development Company registered a net profit after Zakat and tax worth SAR 254.44 million in the first half (H1) of 2021, higher by 183.6% compared to SAR 89.7 million in H1-20.

Earnings per share stood at SAR 1.43 in H1-21, up from SAR 0.5 in H1-20, according to the interim financial results on Wednesday.

Sales increased by 10% to SAR 126.15 million in the January-June 2021 period from SAR 114.45 million in the corresponding period in 2020.

During the second quarter (Q2) of 2021, Arriyadh Development posted net profits of SAR 143.41 million, a jump of 162.8% from SAR 54.56 million in Q2-20.

Sales also increased by 9.7% to SAR 63 million in the April-June 2021 period from SAR 57.41 million in the same quarter last year.

On a quarterly basis, the net profits in Q2-21 were higher by 29% than SAR 111 million in Q1-21. The sales, meanwhile, were marginally down 0.1% from SAR 63.1 million.

In a separate disclosure, the board of Arriyadh Development decided to distribute a cash dividend of SAR 1 per share, representing 10% of the share’s par value, for H1-21.

The total value of the dividends will stand at SAR 177.17 million, while the number of shares eligible for distribution totals 177.77 million.

The company noted that the distribution date will be 30 September 2021 for the shareholders of records on 9 September.