First Avenue Profits Rise 21.9% to SAR 31 Million in H1 2024

First Avenue for Real Estate Development Co. revealed on Wednesday an increase in net profit during the first half to 31 million riyals, compared to 25,4 million riyals in the same period of the previous year by 21.9%, following the announcement today of the preliminary financial results for the period ending June 30, 2024 (six months).

Revenues decreased to 99,4 million riyals in the first half, compared to 164 million riyals in the same period of the previous year by 39.3%.

Total equity (after excluding non-controlling interests) amounted to 430,2 million riyals in the 6-month period compared to 328,2 million riyals in the same period last year, an increase of 31%.

Earnings per share in the current period reached 0.18 riyals, compared to 0.15 riyals in the same period of the previous year.