RNS Number : 6028H
Dar Al-Arkan Sukuk Company Ltd
20 March 2024
 


Dar Alarkan Real Estate Development Company announces its annual financial results for the period ending on 31-12-2023 (12 months)


All figures are in (Millions) Saudi Arabia, Riyals

Element

Current year

Previous year

% Change

Sales/Revenue

       2,707.10

       3,925.50

-31.0%

Gross Profit (Loss)

       1,070.41

       1,457.59

-26.6%

Operational  Profit (Loss)

          865.31

       1,099.66

-21.3%

Net Profit (Loss) after Zakat and Tax

          610.76

          441.72

38.3%

Total Comprehensive Income

          589.19

          444.50

32.6%

Total Share Holders Equity (after deducting minority equity)

      20,291.88

     19,604.13

3.51%

Profit (Loss) per Share

0.57

0.41

-


Element List

Amount

Percentage Of The Capital (%)

Profit (Losses) Resulting From The Change In Investment Properties Fair Value

                 -  

                 -  


Element

Explanations

The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year

The decrease in sales revenue for the current year compared to previous year is mainly due to lower property sale.

The reason of the increase (decrease) in the net profit during the current year compared to the last year is

Despite of lower property sales; the increase in net income is mainly due to the increase in share of income from associates and the increase in lease revenue. The increase in finance cost is fully off-set with the decrease in operating expenses and the higher non-operating income from Islamic Murabaha deposits and positively impacted the net income.

 

 

Explanations

Notes

1.     Statement of the type of external auditor's report

Unmodified opinion
2.     Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion

None
3.     Reclassification of Comparison Items

None
4.     Additional Information

None

 

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