Riyadh – Mubasher: Alandalus Property Company registered a 37.89% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 33.10 million in the first nine months (9M) of 2023, versus SAR 53.29 million.
The revenues went up by 2.05% YoY to SAR 163.95 million in 9M-23 from SAR 160.66 million, according to the interim income statements.
Earnings per share (EPS) reached SAR 0.35 in January-September 2023, an annual decline from SAR 0.57.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, Alandalus Property generated net profits after Zakat and tax worth SAR 7.19 million, marking a 60.14% plunge from SAR 18.04 million in Q3-22.
Revenues stood at SAR 55.54 million in Q3-23, higher by 4.28% YoY than SAR 53.26 million.
On a quarterly basis, the Q3-23 profits shrank by 38.28% from SAR 11.65 million in Q2-23, while the revenues increased by 2.95% from SAR 53.95 million.
