Dar Al-Arkan Sukuk Company Ltd 3rd Quarter Results
11 November 2024 - 9:01PM
RNS Regulatory News
RNS Number : 7219L
Dar Al-Arkan Sukuk Company Ltd
11 November 2024
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Dar
Alarkan Real Estate Development Company announces its interim
financial results for the period ending on 30-09-2024 (9
months)
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All figures are in (Millions) Saudi Arabian
Riyals
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Element
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Current quarter
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Similar quarter for previous year
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%
Change Current
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Previous quarter
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%
Change
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Sales / Revenue
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918.73
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715.70
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28.4%
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961.56
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-4.5%
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Gross Profit (Loss)
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412.11
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285.35
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44.4%
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383.74
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7.4%
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Operational Profit (Loss)
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332.77
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234.31
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42.0%
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317.49
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4.8%
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Net
Profit (Loss) after Zakat and Tax
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134.74
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151.91
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-11.3%
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165.12
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-18.4%
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Total Comprehensive Income
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151.48
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142.76
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6.1%
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145.38
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4.2%
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Element
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Current period
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Similar period for previous year
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% change
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Sales / Revenue
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2,745.22
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2,306.25
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19.0%
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Gross Profit (Loss)
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1,151.64
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901.78
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27.7%
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Operational Profit (Loss)
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955.48
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737.22
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29.6%
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Net
Profit (Loss) after Zakat and Tax
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453.46
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416.01
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9.0%
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Total Comprehensive Income
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435.13
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396.58
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9.7%
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Total Share Holders Equity (after deducting minority
equity)
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20,727.01
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20,100.62
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3.12%
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Profit (Loss) per Share
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0.42
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0.39
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-
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Element
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Explanation
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The
reason of the increase (decrease) in the sales/ revenues during the
current quarter compared to the same quarter of the last year
is
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The
increase in sales revenue for the current quarter compared to the
same quarter of the last year is mainly due to higher property sale
and inclusion of project management consulting
revenue.
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The
reason of the increase (decrease) in the net profit during the
current quarter compared to the same quarter of the last year
is
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In
spite of higher property sale the net income is decreased mainly
due to the increase in operating expenses, losses from associates
and increase in finance costs.
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The
reason of the increase (decrease) in the sales/ revenues during the
current quarter compared to the previous one is
|
The
decrease in sales revenue for the current quarter compared to the
previous quarter is mainly due to lower property
sale.
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The
reason of the increase (decrease) in the net profit during the
current quarter compared to the previous one is
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The
decrease in net income is mainly due to lower property sales. The
increase in operating cost, losses from associates and the decrease
in non-operating income from Islamic Murabaha deposits were also
impacted to the net income.
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|
The
reason of the increase (decrease) in the sales/revenue during the
current period compared to the same period of the last year
is
|
The
increase in sales revenue for the current period compared to the
same period last year is mainly due to higher property sale and
inclusion of project management consulting
revenue.
|
|
|
The
reason of the increase (decrease) in the net profit during the
current period compared to the same period of the last year
is
|
The
increase in net income is mainly due to the higher property sales.
The increase in operating expenses, higher finance cost and the
losses from associates were off-set with higher non-operating
income from Islamic Murabaha deposits and impacted the net
income.
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Other notes
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1. Statement of the type of external auditor's
report
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Unmodified conclusion
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2. Modification, Qualification or Emphasis of a Matter
as Stated within the External Auditor Opinion
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None
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3. Reclassification of Comparison
Items
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None
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4. Additional Information
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None
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