Saudi Real Estate Co. (Al Akaria) reported a net profit after Zakat and tax of SAR 54.9 million in 2021, versus a net loss of SAR 140.7 million a year earlier, driven by higher rental revenue, land sale revenue rise, improved performance and expansion of subsidiaries’ business activity.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 553.47 | 1,028.84 | 85.9 % |
| Gross Income | 185.45 | 347.50 | 87.4 % |
| Operating Income | (77.08) | 110.32 | 243.1 % |
| Net Income | (140.74) | 54.91 | 139.0 % |
| Average Shares | 276.53 | 276.53 | - |
| EPS (Riyals) | (0.51) | 0.20 | 139.0 % |
The company also obtained SAR 50 million from Limitless Company, with a same amount provision written back.
The Saudi firm reported a net profit of SAR 92.6 million Q4 2021, versus a net loss at SAR 125.17 million in Q4 2020.
Sequentially, the company swung to profit in the fourth quarter, versus a net loss of SAR 23.9 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 227.07 | 542.04 | 138.7 % |
| Gross Income | 56.12 | 190.92 | 240.2 % |
| Operating Income | (68.86) | 101.00 | 246.7 % |
| Net Income | (125.17) | 92.56 | 173.9 % |
| Average Shares | 276.53 | 276.53 | - |
| EPS (Riyals) | (0.45) | 0.33 | 173.9 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 141.29 | 542.04 | 283.6 % |
| Gross Income | 45.37 | 190.92 | 320.8 % |
| Operating Income | (1.72) | 101.00 | 5978.8 % |
| Net Income | (23.93) | 92.56 | 486.8 % |
| Average Shares | 276.53 | 276.53 | - |
| EPS (Riyals) | (0.09) | 0.33 | 486.8 % |
Total shareholders’ equity, excluding minority interest rose 3.46% YoY to SAR 2.96 billion in 2021, from SAR 2.86 billion a year earlier.
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