Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 227.9 million in 2020, up 60% compared to a net profit of SAR 142.9 million a year earlier.
The strong performance was spurred by an increase in the company’s profit share from its associates, although two of its operating centers were hit by the COVID-19 precautionary measures.
| Item | 2019 | 2020 | Change |
|---|
The fourth-quarter net profit after Zakat and tax surged to SAR 83.1 million, compared to a net profit of SAR 9.1 million in Q4 2019.
Total shareholders’ equity, excluding minority interest, grew by 2.75% year-on-year to SAR 1.98 billion in 2020.
| Item | Q4 2019 | Q4 2020 | Change |
|---|
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 59.74 | 63.54 | 6.4 % |
| Gross Income | 43.56 | 43.56 | 0.0 % |
| Operating Income | 39.46 | 34.10 | (13.6 %) |
| Net Income | 55.09 | 83.14 | 50.9 % |
| Average Shares | 177.78 | 177.78 | - |
| EPS (Riyals) | 0.31 | 0.47 | 50.9 % |
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