Riyadh – Mubasher: Alandalus Property Company logged net profits after Zakat and tax valued at SAR 25.91 million in the first half (H1) of 2023, an annual drop of 26.50% from SAR 35.25 million.

The listed firm posted a 0.95% year-on-year (YoY) rise in revenue to SAR 108.41 million during January-June 2023, compared to SAR 107.39 million, according to the initial financial results.

Earnings per share (EPS) hit SAR 0.28 in the first six months (6M) of 2023, an annual drop from SAR 0.38.

Income Statements for Q2-23

In the second quarter (Q2) of 2023, Alandalus Property generated a 24.64% plunge in net profit after Zakat and tax to SAR 11.65 million, compared to SAR 15.46 million during the same period a year earlier.

During the three-month period that ended on 30 June 2023, the revenues edged down by 0.28% YoY to SAR 53.95 million from SAR 54.10 million.

On a quarterly basis, the profits in Q2-23 declined by 18.30% from SAR 14.26 million as of 31 March 2023, while the revenues retreated by 0.95% from SAR 54.47 million.

Dividends for H1-23

The company’s board members recommended interim cash dividends amounting to SAR 23.33 million, equivalent to 2.50% of the capital, for H1-23.

A dividend of SAR 0.25 per share will be disbursed among 93.33 million eligible shares.

Eligibility and payment dates for the dividends will be 15 and 29 August 2023, respectively.