Riyadh – Mubasher: Alandalus Property Company registered SAR 53.29 million in net profit after Zakat and tax during the first nine months (9M) of 2022, down 7.40% from SAR 57.55 million in 9M-21.

The sales amounted to SAR 160.66 million in the January-September 2022 period, an annual growth of 1.47% from SAR 158.34 million, according to the initial financial results.

Meanwhile, the earnings per share (EPS) plummeted to SAR 0.57 in 9M-22 from SAR 0.62 in 9M-21.

During the third quarter (Q3) of 2022, the company’s net profits after Zakat and tax plummeted by 6.87% year-on-year (YoY) to SAR 18.04 million, compared to SAR 19.37 million.

Revenues declined by 3.93% YoY to SAR 53.26 million in Q3-22 from SAR 55.44 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax surged by 16.69% from SAR 15.46 million in Q2-22, whereas the revenues decreased by 1.55% from SAR 54.10 million.

In the first half (H1) of 2022, Alandalus Property logged net profits worth SAR 35.25 million, lower by 7.70% than SAR 38.19 million in H1-21.

Last September, the Tadawul-listed firm distributed SAR 23.33 million as cash dividends for H1-22.