View United Real Estate Development Co. announces its Interim Financial results for the period ending on 2025-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 62,252,941 | 30,401,855 | 104.766 | ||
| Net profit (Loss) | 9,973,109 | 4,296,673 | 132.112 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 77,327,618 | 60,385,914 | 28.055 | ||
| Profit (Loss) per Share | 0.3 | 0.13 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | "The company achieved an outstanding financial performance during the first half of 2025 compared to the same period of the previous year, as the operational performance improved supported by the positive impact of the company's projects (off-plan sales) and land sales.
This is evidenced by the increase in revenues achieved by the company during the period by 104.77%. The increase in revenue is due to the following: 1. An increase in revenues from the sale of land by 100% compared to the same period of the previous year. 2. An increase in revenues from the sale of the company's real estate projects (off-plan sales) by 100% compared to the same period of the previous year.
" |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | "The reason for the increase in net profit during the first half of 2025 compared to the same period of the previous year is due to the following:
1. Revenue increased by 104.77%, mainly driven by the improvement in the operational performance of the majority of business segments, in addition to the exceptionally positive impact of the company's projects (off-plan sales) and land sales. 2. The cost of revenue increased by 106% compared to the same period of the previous year, resulting from proving the cost of selling real estate units on the map and the cost of selling land. 3. Operating expenses (which include marketing, sales, general and administrative expenses) decreased by only 9% compared to the same period of the previous year. 5. Generating income from savings bank account returns (Shari'a compliant) This is despite the fact that: • Zakat expenditure increased to SAR 1.006 million during the first half of 2025 compared to SAR 369 thousand for the same period of the previous year." |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | "The Company has amended all the items of the affected financial statements for the previous periods, whereby
Recording an amount of 880,455 in retained profits in lieu of additional contribution to the capital" |
| Additional Information | "Basic earnings per share have been calculated by dividing the period's earnings by the weighted average number of common shares outstanding at the end of the
The period of 33 million shares. Reduced EPS is the same as basic EPS as the company does not have any discounted instruments." |
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