Saudi Al-Arkan’s net profit posts 3.1 percent surge in Q3

16 Oct 2015

(MENAFN) Dar Al-Arkan, one of Saudi Arabia’s biggest real-estate developers, registered a 3.1 percent climb in its gross profit over the July-September period.

The top firm’s profit hit USD24.7 million in the mentioned period, compared to the slightly lower USD23.9 million in last year’s corresponding timeframe.

Furthermore, the mainstream property developer attributed the earnings increase to the lower finance charges and operating expenses.

It’s worth mentioning that Saudi firms issue short income statements early in the reporting period before publishing more detailed results later.

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