Riyadh – Mubasher: Arriyadh Development Company achieved net profits after Zakat and tax worth SAR 70.8 million during the third quarter (Q3) of 2021, rising by 28.4% from SAR 55.1 million in Q3-20.

Sales rose by 3.6% to SAR 61.9 million in Q3-21 from SAR 59.7 million in Q3-20, according to the financial results on Thursday.

Quarter-on-quarter (QoQ), the net profits in Q3-21 were 50.6% lower than SAR 143.41 million, while the revenues declined by 1.7% from SAR 63 million.

During the first nine months of 2021, Arriyadh Development registered net profits worth SAR 325.2 million, a surge of 124.5% from SAR 144.8 million in the same period last year.

Earnings per share stood at SAR 1.83 in the January-September 2021 period, compared to SAR 0.81 in the corresponding period in 2020. Sales grew by 7.9% to SAR 188.1 million from SAR 174.2 million.