Saudi: Dar Al Arkan posts nearly $85mln profits in H1-24

The revenues hit SAR 1.82 billion in H1-24, up 14.83% year-on-year (YoY) from SAR 1.59 billion, according to the interim financial results

Staff Writer, Mubasher

August 7, 2024

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Dar Al Arkan Real Estate Development Company generated SAR 318.71 million in net profit during the first half (H1) of 2024, an annual rise of 20.67% from SAR 264.10 million.

The revenues hit SAR 1.82 billion in H1-24, up 14.83% year-on-year (YoY) from SAR 1.59 billion, according to the interim financial results.

Earnings per share (EPS) grew to SAR 0.30 as of 30 June 2024 from SAR 0.24 in H1-23.

Financials for Q2-24

In the second quarter (Q2) of 2024, Dar Al Arkan recorded a 12.72% YoY growth in net profit to SAR 165.12 million, compared to SAR 146.48 million.

The sales grew by 16.37% to SAR 961.56 million in Q2-24 from SAR 826.23 million in Q2-23.

Quarterly, the profits registered in Q2-24 climbed by 7.50% from SAR 153.59 million in Q1-24, while the revenues hiked by 589.04% from SAR 139.55 million.

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