Riyadh – Mubasher: Arriyadh Development Company witnessed a 19.52% lower net profit after Zakat and tax at SAR 261.73 million in the first nine months (9M) of 2022, versus SAR 325.20 million in 9M-21.
Revenues inched up by 0.32% year-on-year (YoY) to SAR 188.70 million in January-September 2022, compared to SAR 188.10 million, according to the interim financial results.
The earnings per share (EPS) retreated to SAR 1.47 in 9M-22 from SAR 1.83 in 9M-21.
During the third quarter (Q3) of 2022, Arriyadh Development achieved net profits after Zakat and tax worth SAR 65.42 million, an annual decrease of 7.60% from SAR 70.80 million.
Meanwhile, the sales went up by 2.91% YoY to SAR 63.70 million in Q3-22 from SAR 61.90 million.
On a quarterly basis, the Q3-22 net profits after Zakat and tax soared by 13.97% from SAR 57.40 million in Q2-22, while the revenues grew by 4.25% from SAR 61.10 million.
In the first half (H1) of 2022, the net profits after Zakat and tax of Arriyadh Development reached SAR 196.30 million, lower by 22.85% than SAR 254.44 million in H1-21.
Last October, the Tadawul-listed firm disbursed cash dividends worth SAR 44.44 million for H1-22.
