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Dar Alarkan Real Estate Development Co. announces the interim financial results for the period ending on 31-03-2018 (Three Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 331.12 12.13 2,629.76 320.68 3.26
Gross profit (loss) 474.61 135.69 249.78 465.37 1.99
Operational profit (loss) 436.45 97.2 349.02 428.87 1.77
Earning or loss per share, Riyals 0.31 0.01 - - -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The increase in net income is mainly due to the higher property sale. The increase in finance cost and the decrease in lease revenue is partially off-set with the increase in non-operating income received from deposits.
Reasons of increase (decrease) for period compared with same period last year The increase in net income is mainly due to the higher property sale. The increase in finance cost and the decrease in lease revenue is partially off-set with the increase in non-operating income received from deposits.
Reasons of increase (decrease) for quarter compared with previous quarter The increase in net income is mainly due to the higher property sale. The increase in non-operating income received from deposit is partially offset the increase in operating expenses and finance cost together with the decrease in lease revenue and profit from associates.
Other notes 1.The total sales realized for the quarter amounting to SAR 2,793.91 million, as compared to SAR 2435.12 million for the previous quarter an increase of 14.73% and compared to SAR 360.33 million, for the for the similar quarter in the previous year , an increase of 675.38%
2.Total comprehensive income, attributable to owners of the Company, for the current quarter amounted to SAR 331.12 million, as compared to SAR 323.35 million for the previous quarter, an increase of 2.4% and compared to SAR 12.13 million for the similar quarter of the previous year, an increase of 2629.76%.
3.Total equity (excluding minority interests) for the current period was SAR 19,064.67 million , compared to SAR 18,733.55 for the previous year, an increase of 1.77% and compared to SAR 18,189.64 million for the similar quarter in the previous year, an increase of 4.81%.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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