Saudi: Amlak International’s net profits down to $6.13mln in 9M-23

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Riyadh – Amlak International for Real Estate Finance Company logged net profits worth SAR 22.92 million in the first nine months (9M) of 2023, an annual plunge of 71.61% from SAR 80.73 million.

Earnings per share (EPS) hit SAR 0.25 as of 30 September 2023, down year-on-year (YoY) from SAR 0.89, according to the initial financial results.

Assets increased by 5.62% to SAR 3.62 billion in 9M-23 from SAR 3.43 billion in 9M-22, while the investments retreated by 10.52% to SAR 893 million from SAR 998 million.

Meanwhile, the loans and advances portfolio reached SAR 3.46 billion during the January-September 2023 period, higher by 5.61% than SAR 3.28 billion in the year-ago period.

Income Statements for Q3-23

The net profits of Amlak International stood at SAR 5.57 million in the third quarter (Q3) of 2023, lower by 77.77% YoY than SAR 25.05 million.

On a quarterly basis, the Q3-23 profits declined by 11.77% from the SAR 6.31 million recorded in Q2-23.