Dar Al Arkan Real net profit decreased to 135 million riyals during Q3, by 11%

Dar Al Arkan Real Estate Development Company’s net profit decreased to 135 million riyals during the third quarter compared to 152 million riyals in the same quarter of last year by 11%, following the announcement today of the preliminary consolidated financial results for the period ending September 30, 2024 (9 months).

The operating profit amounted to 333 million riyals in the third quarter compared to 234 million riyals in the same quarter of the previous year, an increase of 42%.

As for the net profit in the current period, it amounted to 453 million riyals compared to 416 million riyals in the same period of last year, an increase of 9%.

The earnings per share in the current period amounted to 0.42 riyals compared to 0.39 riyals in the same period of last year.

The company said in a statement that the increase in sales revenues in the current quarter compared to the same quarter of the previous year is mainly due to the increase in real estate sales in addition to project management consulting revenues.