Riyadh – Mubasher: Dar Alarkan Real Estate Development Company recorded an annual surge of 123.7% in net profits after Zakat and tax to SAR 50.96 million in the first half (H1) of 2021 from SAR 22.78 million in H1-20.

Earnings per share stood at SAR 0.05 in H1-21, compared to SAR 0.02 in H1-20, according to the financial results on Tuesday.

Sales increased by 6% to SAR 1.12 billion in the January-June 2021 period from SAR 1.05 in the same six months last year.

As for the second quarter (Q2) of 2021, the real estate developer achieved a jump of 116.6% in net profits to SAR 22.44 million from SAR 10.36 million in Q2-20.

Sales also grew by 22% to SAR 567.76 million in the April-June 2021 period from SAR 464.34 million in Q2-20.

On a quarterly basis, the net profits in Q2-21 were 21% lower than SAR 28.52 million in Q1-21, while the sales rose by 2% from SAR 554.84 million.