Riyadh – Mubasher: Retal Urban Development Company posted19.46% year-on-year (YoY) higher net profits at SAR 134.45 million in the first half (H1) of 2024, compared to SAR 112.54 million.
The revenues amounted to SAR 964.30 million in H1-24, marking an annual surge of 65.40% from SAR 582.98 million, according to the financial results.
Earnings per share (EPS) increased to SAR 0.27 as of 30 June 2024 from SAR 0.23 in the year-ago period.
Financials for Q2-24
In the second quarter (Q2) of 2024, the net profits reached SAR 72.18 million, up 1.66% YoY from SAR 71 million.
Revenues widened by 76.04% to SAR 463.67 million in the three-month period that ended on 30 June 2024 from SAR 263.38 million in Q2-23.
Quarter-on-quarter (QoQ), the net profits in Q2-24 jumped by 15.91% from SAR 62.27 million in Q1-24, while the revenues declined by 7.38% from SAR 500.62 million.
Dividends
The board members agreed to distribute cash dividends amounting to SAR 80 million for H1-24.
Retal will pay a dividend of SAR 0.16 per share, representing 16% of the share nominal value, for 500 million eligible shares.
Eligibility and disbursement dates for the dividends will be 29 September and 10 October 2024, respectively.
