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FINANCIAL NEWS
Saudi’s Dar Al Arkan posts USD18.8m net profit in Q2
15 Jul 2015
(MENAFN) Saudi Arabia’s Dar Al Arkan, the real estate developer, recorded a net profit of about USD18.8 million in the second quarter of the year, marking a decrease by 42 percent, Arabian Business reported.
Arkan missed analysts’ expectations through its quarterly result, which significantly decreased from the USD32.33 million recorded in the corresponding period a year ago.
Arkan said that the decrease is attributed to lower revenues from land sales. Analysts forecast that the company would make USD39.61 million for the second quarter.
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