Arriyadh Development Co. (ARDCO) reported a net profit after Zakat and tax of SAR 318.3 million in 2021, up 40% from SAR 227.9 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 237.73 | 250.91 | 5.5 % |
| Gross Income | 168.62 | 172.83 | 2.5 % |
| Operating Income | 146.58 | 135.79 | (7.4 %) |
| Net Income | 227.93 | 318.31 | 39.7 % |
| Average Shares | 177.78 | 177.78 | - |
| EPS (Riyals) | 1.28 | 1.79 | 39.7 % |
The strong performance was spurred by an increase in the company’s profit share from its associates and operating and rental revenues.
This was despite the increase in general and administrative expenses.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 63.54 | 62.85 | (1.1 %) |
| Gross Income | 43.56 | 40.00 | (8.2 %) |
| Operating Income | 34.10 | 22.23 | (34.8 %) |
| Net Income | 83.14 | (6.93) | (108.3 %) |
| Average Shares | 177.78 | 177.78 | - |
| EPS (Riyals) | 0.47 | (0.04) | (108.3 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 61.91 | 62.85 | 1.5 % |
| Gross Income | 41.49 | 40.00 | (3.6 %) |
| Operating Income | 33.44 | 22.23 | (33.5 %) |
| Net Income | 70.79 | (6.93) | (109.8 %) |
| Average Shares | 177.78 | 177.78 | - |
| EPS (Riyals) | 0.40 | (0.04) | (109.8 %) |
The company turned to a net loss after Zakat and tax of SAR 6.9 million in Q4 2021 from a net profit of SAR 83.1 million in the same period a year ago.
Total shareholders’ equity, excluding minority interest, amounted to SAR 2.02 billion in 2021 from SAR 1.98 billion in the same period a year earlier.
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