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Dar Alarkan's 9M profit soars 1,717%

Dar Alarkan's 9M profit soars 1,717%
The company posted SAR 1.718 billion in sales
-10.08% 13.56 -1.52

Riyadh – Mubasher: Dar Alarkan Real Estate Development Company achieved net profits after Zakat and tax of SAR 76.13 million in the first nine months of 2021, a leap of 1,717% year-on-year (YoY) from SAR 4.19 million. 

Earnings per share (EPS) amounted to SAR 0.07 in the January-September period of 2021, compared to SAR 0.004 in the year-ago period, the company said in a bourse disclosure on Monday. 

The company posted SAR 1.718 billion in sales during the nine-month period ended 30 September, up from SAR 1.448 billion in the corresponding period a year earlier. 

As for the third quarter (Q3) of 2021, the real estate developer reported net profits of SAR 25.17 million, versus net losses of SAR 18.59 million in Q3-20. 

The sales hiked to SAR 595.41 million in Q3-21 from SAR 391.24 million in Q3-20. 

Quarter-on-quarter (QoQ), the company's net profits rose by 12% from SAR 22.44 million in Q2-21, while the sales went up by 4.8% from SAR 567.76 million in the April-June period.