REG - Dar Al-Arkan Sukuk - 1st Quarter Results

Demire Deutsche Mittelstand Real Estate AGAnnouncement

20/05/2024 13:30

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RNS Number : 1327P  Dar Al-Arkan Sukuk Company Ltd  20 May 2024

       Dar Alarkan Real Estate Development Company announces its interim financial
       results for the period ending on 31-03-2024 (3 months)
                                                                                       All figures are in (Millions) Saudi Arabian Riyals
       Element List                                                                    Current Quarter            Similar Quarter For Previous Year  % Change Current  Previous Quarter           % Change
       Sales Revenue                                                                             864.92                     764.32                   13.2%                       400.85           115.8%
       Gross Profit (Loss)                                                                       355.80                     300.84                   18.3%                       168.62           111.0%
       Operational  Profit (Loss)                                                                305.22                     245.09                   24.5%                       128.09           138.3%
       Net Profit (Loss) after Zakat and Tax                                                     153.59                     117.63                   30.6%                       194.74           -21.1%
       Total Comprehensive Income                                                                138.26                     114.27                   21.0%                       192.61           -28.2%

       Element List                                                                    Current Period             Similar Period For Previous Year   %Change
       Total Share Holders Equity (after deducting minority equity)                    20,430.14                  19,718.39                          3.61%
       Profit (Loss) per Share                                                         0.14                       0.11                               -

       Element                                                                         Amount                     Percentage Of The Capital (%)
       Profit (Losses) Resulting From The Change In Investment Properties' Fair Value  -                          -

       Element List                                                                    Explanation
       The reason of the increase (decrease) in the sales/ revenues during the         The increase in sales revenue for the current quarter compared to the same
       current quarter compared to the same quarter of the last year is                quarter of the previous year is mainly due to higher property sale.
       The reason of the increase (decrease) in the net profit during the current      The increase in net income is mainly due to the higher property sale; Decrease
       quarter compared to the same quarter of the last year is                        in operating expenses and the higher non-operating income from Islamic
                                                                                       Murabaha deposits were off set with the decrease in income from associates and
                                                                                       the increase in finance cost and impacted the net income.
       The reason of the increase (decrease) in the sales/ revenues during the         The increase in sales revenue for the current quarter compared to the previous
       current quarter compared to the previous one is                                 quarter is mainly due to higher property sale.
       The reason of the increase (decrease) in the net profit (loss) during the       Despite of higher property sale, the decrease in net income is mainly due to
       current quarter compared to the previous one is                                 lower income from associates. The increase in finance costs and the lower
                                                                                       non-operating income from Islamic Murabaha deposits were partially off-set
                                                                                       with the decrease in operating costs and impacted to the net income.
 Note  Explanations
       1.  Statement of the type of external auditor's report                          Unmodified opinion
       2.  Modification, Qualification or Emphasis of a Matter as Stated within the    None
       External Auditor Opinion
       3.  Reclassification of Comparison Items                                        None
       4.  Additional Information                                                      None

 

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