Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) logged 64.04% higher net profits after Zakat and tax at SAR 1.32 billion in the first nine months (9M) of 2023, versus SAR 621 million in 9M-22.

Revenues grew by 3.25% to SAR 1.70 billion in 9M-23 from SAR 1.65 billion a year earlier, according to the interim income statements.

Furthermore, the earnings per share (EPS) jumped to SAR 2.12 as of 30 September 2023 from SAR 1.30 a year earlier.

Financial Results for Q3-23

During the third quarter (Q3) of 2023, the firm posted net profits after Zakat and tax valued at SAR 293.60 million, marking an 11.09% year-on-year (YoY) rise from SAR 264.30 million.

The revenues hit SAR 567.70 million in the July-September 2023 period, down 1.04% from SAR 573.70 million in Q3-22.

On a quarterly basis, the Q3-23 profits fell by 12.90% from SAR 337.10 million in April-June 2023, while the revenues edged up by 0.42% from SAR 565.30 million.

Alison Rehill-Erguven, CEO of Cenomi Centers, commented: “We aim to redefine the essence of retail excellence, a commitment reflected by the record number of visitors, over 95 million nationally, who have made Cenomi Centers their preferred lifestyle destination.”

“The momentum continues with six more premier assets advancing steadily, and our flagship destinations in Riyadh and Jeddah are slated to welcome visitors in the first half (H1) of 2025,” Rehill-Erguven added.