Riyadh –   Alandalus Property Company incurred net losses worth SAR 31.60 million in 2024, against net profits amounting to SAR 36.42 million at the end of December 2023.

Revenues climbed by 9.63% year-on-year (YoY) to SAR 235.89 million in 2024 from SAR 215.16 million, according to the financial results.

Loss per share hit SAR 0.34 last year, versus earnings per share (EPS) of SAR 0.39 in 2023.

Cash Dividends for H2-24

The board of Alandalus Property recommended cash dividends of SAR 23.33 million, equivalent to 2.50% of the capital, for the second half (H2) of 2024.

The company will pay out a dividend of SAR 0.25 per share for 93.33 million eligible shares.

In H1-24, Alandalus Property shifted to net losses valued at SAR 6.53 million, compared to net profits worth SAR 25.91 million in H1-23.

Source: Mubasher

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