REG - Dar Al-Arkan Sukuk - Annual Financial Report
20/03/2024 11:00
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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 The decrease in sales revenue for the current year compared to previous year
current year compared to the last year is mainly due to lower property sale.
The reason of the increase (decrease) in the net profit during the current Despite of lower property sales; the increase in net income is mainly due to
year compared to the last year is 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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