The Clap
The net profits of “Dar Alarkan Real Estate Development” (4300) jumped during the fourth quarter of the previous year. This was by 300% on an annual basis, reaching about 194.7 million riyals.
What
The net profits of Dar Alarkan, a leader in providing the best real estate solutions in the Kingdom, increased at the end of last year. This amounted to about 610.8 million riyals, an increase of 38% on an annual basis.
So What
The company’s high annual profits came as a result of increased returns from its investments in affiliate companies. In addition to the growth in its rental revenues.
This is despite a decrease in its real estate sales, leading to a decline in total sales to approximately 2.7 billion riyals during 2023. This is compared to about 3.9 billion riyals in 2022.
Some Context
Earnings per share last year reached 0.57 riyals, compared to 0.41 riyals in the year before last.
