Riyadh – Mubasher: Dar Al Arkan Real Estate Development Company posted net profits after Zakat and tax worth SAR 416.01 million in the first nine months (9M) of 2023, an annual rise of 5.85% from SAR 393.01 million.

Earnings per share (EPS) stood at SAR 0.37 in 9M-23, versus SAR 0.36 a year earlier, according to the interim financial results.

The Saudi firm recorded a 24.13% year-on-year (YoY) drop in revenue to SAR 2.30 billion during January-September 2023, compared to SAR 3.03 billion.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the net profits after Zakat and tax hit SAR 151.91 million, higher by 91.27% than SAR 79.42 million in Q3-22.

Revenues dropped by 3.61% YoY to SAR 715.70 million in July-September 2023 from SAR 742.54 million.

On a quarterly basis, the Q3-23 profits grew by 3.71% from the SAR 146.48 million achieved in Q2-23, while the revenues plummeted by 13.38% from SAR 826.23 million.