Alandalus Property Company turned to net losses valued at SAR 6.53 million in the first half (H1) of 2024, against profits worth SAR 25.91 million in H1-23.

The revenues amounted to SAR 111.71 million in H1-24, an annual growth of 3.04% from SAR 108.41 million, according to the financial results.

Loss per share reached SAR 0.07 as of 30 June 2024, versus earnings per share (EPS) of SAR 0.28 a year earlier.

Financials for Q2-24

In the second quarter (Q2) of 2024, the company also shifted to net losses worth SAR 11.25 million, compared to net profits amounting to SAR 11.65 million in Q2-23.

The revenues climbed by 8.82% to SAR 58.71 million in Q2-24 from SAR 53.95 million a year earlier.

Quarterly, Alandalus Property swung to net losses in Q2-24 when compared with net profits valued at SAR 4.72 million in Q1-24, while the revenues hiked by 10.77% from SAR 53 million.

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