Al-Riyadh Development Company's profits increased by 28.49%, after zakat and tax, to 70.8 million riyals in the third quarter of 2021, compared to 55.1 million riyals in the same quarter of 2020.
According to Arabiya Net, the company's profits decreased by 50.63% in the third quarter of 2021, compared to the profits of the second quarter of the same year of 143.41 million riyals.
The company said in a statement to Saudi Arabia's Tadawul, today, Thursday, that the growth in profits on an annual basis is due to the increase in the revenues of the operating and leasing sectors, as well as the increase in the company's profits from the results of The business of associates, despite the increase in general and administrative expenses.
The data indicated an increase in profits for the first nine months of 2021 by 124.58% to 325.2 million riyals, compared to 144.8 million riyals in the corresponding period of 2020.
Sales revenues for the nine-month period ending on September 30th amounted to 188 million riyals, an increase of 8% compared to sales revenues for the same period last year, which amounted to 174.19 million riyals.< /p>
The company's profits from the results of the operations of associates amounted to 213.66 million riyals in 9 months, an increase of 531% on an annual basis.
