Dar Al-Arkan Sukuk Company Ltd 3rd Quarter Results (5055S)

TIDMAG79

RNS Number : 5055S

Dar Al-Arkan Sukuk Company Ltd

06 November 2023

 
           Dar Alarkan Real Estate Development Company announces its interim 
            financial results for the period ending on 30-09-2023 (9 months) 
                                            All figures are in (Millions) Saudi Arabian 
                                             Riyals 
          -------------------------------  --------------------------------------------------------------------------- 
 
                      Element               Current          Similar           % Change   Previous          % Change 
                                             quarter          quarter           Current    quarter 
                                                              for previous 
                                                              year 
          -------------------------------  ---------------  ----------------  ---------  ----------------  --------- 
  Sales / Revenue                                   715.70            742.54      -3.6%            826.23     -13.4% 
 ----------------------------------------  ---------------  ----------------  ---------  ----------------  --------- 
  Gross Profit (Loss)                               285.35            304.26      -6.2%            315.59      -9.6% 
 ----------------------------------------  ---------------  ----------------  ---------  ----------------  --------- 
  Operational Profit 
   (Loss)                                           234.31            218.52       7.2%            257.82      -9.1% 
 ----------------------------------------  ---------------  ----------------  ---------  ----------------  --------- 
  Net Profit (Loss) 
   after Zakat and Tax                              151.91             79.42      91.3%            146.48       3.7% 
 ----------------------------------------  ---------------  ----------------  ---------  ----------------  --------- 
  Total Comprehensive 
   Income                                           142.76             79.42      79.8%            139.55       2.3% 
 ----------------------------------------  ---------------  ----------------  ---------  ----------------  --------- 
 
                      Element               Current          Similar           % change 
                                             period           period 
                                                              for previous 
                                                              year 
          -------------------------------  ---------------  ----------------  ---------  ----------------------------- 
  Sales / Revenue                                 2,306.25          3,039.83     -24.1% 
 ----------------------------------------  ---------------  ----------------  ---------  ----------------  --------- 
  Gross Profit (Loss)                               901.78          1,112.53     -18.9% 
 ----------------------------------------  ---------------  ----------------  --------- 
  Operational Profit 
   (Loss)                                           737.22            875.15     -15.8% 
 ----------------------------------------  ---------------  ----------------  --------- 
  Net Profit (Loss) 
   after Zakat and Tax                              416.01            393.01       5.9% 
 ----------------------------------------  ---------------  ----------------  --------- 
  Total Comprehensive 
   Income                                           396.58            393.01       0.9% 
 ----------------------------------------  ---------------  ----------------  --------- 
  Total Share Holders 
   Equity (after deducting 
   minority equity)                              20,100.62         19,552.64      2.80% 
 ----------------------------------------  ---------------  ----------------  --------- 
  Profit (Loss) per 
   Share                                              0.37              0.36          - 
 ----------------------------------------  ---------------  ----------------  --------- 
 
 
  The reason of the                         The increase in net income is mainly due to 
   increase (decrease)                       the decrease in operating expenses, increase 
   in the net profit during                  in lease revenue and the increase in share of 
   the current quarter                       income from associates. The increase in finance 
   compared to the same                      cost were fully offset with the higher non-operating 
   quarter of the last                       income from Islamic Murabaha deposits and positively 
   year is                                   impacted the net income. 
 ----------------------------------------  --------------------------------------------------------------------------- 
  The reason of the                         The increase in net income is mainly due to 
   increase (decrease)                       the decrease in operating expenses, increase 
   in the net profit during                  in lease revenue and the increase in share of 
   the current quarter                       income from associates. The increase in finance 
   compared to the previous                  cost is partially off-set with the higher non-operating 
   period of the current                     income from Islamic Murabaha deposit and impacted 
   year is                                   to the net income. 
 ----------------------------------------  --------------------------------------------------------------------------- 
  The reason of the                         The increase in net income is mainly due to 
   increase (decrease)                       the decrease in operating expenses, increase 
   in the net profit during                  in lease revenue and the increase in share of 
   the current period                        income from associates. The increase in finance 
   compared to the same                      cost is partially off-set with the higher non-operating 
   period of the last                        income from Islamic Murabaha deposit and impacted 
   year is                                   to the net income. 
 ----------------------------------------  --------------------------------------------------------------------------- 
  Other    1. Statement of the                    Unmodified conclusion 
  notes     type of external auditor's 
            report 
          -------------------------------  --------------------------------------------------------------------------- 
  2. Modification, Qualification                  None 
   or Emphasis of a Matter 
   as Stated within the 
   External Auditor Opinion 
 ----------------------------------------  --------------------------------------------------------------------------- 
  3. Reclassification                             None 
   of Comparison Items 
 ----------------------------------------  --------------------------------------------------------------------------- 
  4. Additional Information                       None 
 ----------------------------------------  --------------------------------------------------------------------------- 
 

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November 06, 2023 06:29 ET (11:29 GMT)