Riyadh – Mubasher: Alandalus Property Company posted a 45.45% year-on-year (YoY) decline in net profit to SAR 36.42 million in 2023 from SAR 66.77 million.
Revenues edged lower 0.44% YoY to SAR 215.16 million last year from SAR 216.11 million, according to the annual financial results.
The earnings per share (EPS) hit SAR 0.39 in 2023, down from SAR 0.72 in 2022.
Cash Dividends
The company’s board of directors ratified the disbursement of SAR 23.33 million, or SAR 0.25 per share, in interim cash dividends for the second half (H2) of 2023.
Eligibility will be for who holds the share until 12 March 2024 and the distribution date will be on 26 March.
In the first nine months (9M) of 2023, Alandalus Property recorded a 37.89% YoY plunge in net profit to SAR 33.10 million, versus SAR 53.29 million.
