Riyadh – Mubasher: The net profits after Zakat and tax of Arriyadh Development Company reached SAR 75.67 million in the first half (H1) of 2023, down 61.45% year-on-year (YoY) from SAR 196.30 million.
Revenues enlarged by 11.10% to SAR 138.88 million as of 30 June 2023 from SAR 125 million in H1-22, according to the initial income statements.
The earnings per share (EPS) hit SAR 0.43 during the first six months (6M) of 2023, versus SAR 1.10 in the year-ago period.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the real estate developer generated 24.62% YoY lower net profits after Zakat and tax at SAR 43.27 million, compared to SAR 57.40 million.
The Saudi firm posted revenues amounting to SAR 69.57 million in the April-June 2023 period, an annual rise of 8.87% from SAR 63.90 million.
On a quarterly basis, the Q2-23 net profits climbed by 33.35% from SAR 32.40 million in Q1-23, while the revenues edged up by 0.39% from SAR 69.30 million.
Dividends for H1-23
The board of Arriyadh Development agreed to pay cash dividends worth SAR 44.44 million, equivalent to 2.50% of the capital, for the six-month period that ended on 30 June 2023.
The company will disburse a dividend of SAR 0.25 per share for 177.77 million eligible shares.
Eligibility and payment dates for the dividends will be 10 and 31 August 2023, respectively.
