Riyadh – Mubasher: Alandalus Property Company recorded a surge of 547% in net profits after Zakat and tax to SAR 57.55 million in the first nine months of 2021, compared to SAR 8.89 million in the year-ago period. 

Earnings per share amounted to SAR 0.62 in the January-September period, compared to SAR 0.1 in the corresponding period a year earlier, the company said in a bourse filing on Sunday. 

The property developer achieved sales of SAR 158.34 million in the nine-month period ended 30 September, up from SAR 110.37 million in the prior-year period. 

As for the third quarter (Q3) of 2021, the company logged SAR 19.37 million in net profits, a leap of 518.8% year-on-year (YoY) from SAR 3.13 million. 

The revenues hiked to SAR 55.44 million in Q3-21 from SAR 36.98 million in Q3-20. 

On a quarterly basis, Alandalus Property’s Q3-21 net profits edged up from SAR 19.23 million in Q2-21.