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Dar Al Arkan records 30.5% leap in Q1-24 profits

Dar Al Arkan records 30.5% leap in Q1-24 profits
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Riyadh – Mubasher: The net profits of Dar Al Arkan Real Estate Development Company increased by 30.57% to SAR 153.59 million in the first quarter (Q1) of 2024 from SAR 117.63 million in Q1-23.

The Saudi firm posted a 13.16% year-on-year (YoY) growth in revenue to SAR 864.92 million as of 31 March 2024, versus SAR 764.32 million, according to the initial financials.

During the first three months (3M) of 2024, the earnings per share (EPS) climbed to SAR 0.14 from SAR 0.11 in the year-ago period.

On a quarterly basis, the Q1-24 net profits dropped by 21.13% from SAR 194.74 million in Q4-23, while the revenues hiked by 115.77% from SAR 400.85 million.

In 2023, Dar Al Arkan registered 38.27% YoY higher net profits at SAR 610.76 million, compared to SAR 441.72 million.