FINANCIAL NEWS

Saudi Dar Al-Arkan posts 7.1% rise in Q1 net income

22 Apr 2012

(MENAFN) Dar Al-Arkan Real Estate Development Company said that during the first quarter, net income rose 7.1 percent to USD77.99 million, from USD72.79 million in 2011’s same quarter, reported Arab News.

The company added that operational profit fell 2.7 percent from the USD90.52 million posted a year ago to USD88.12 million.

Furthermore, gross profit in the period went up 0.2 percent to USD97.96 million, from USD97.72 million in 2011’s same period.

It is worth noting that net income in the first quarter rose 1 percent from the USD77.19 million recorded in the previous quarter.

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