Saudi: Amlak International’s net profits decline to nearly $2.4mln in Q1-24

Riyadh –  Amlak International Finance Company achieved net profits after Zakat and tax worth SAR 8.60 million during the first quarter (Q1) of 2024, marking a 22.04% decrease from SAR 11.03 million in Q1-23.

On a quarterly basis, the net profits in Q1-24 were 3.12% lower than SAR 8.88 million in Q4-23, according to the financial results.

The earnings per share (EPS) fell to SAR 0.09 as of 31 March 2024, compared with SAR 0.12 in the same period last year.

Amlak International’s investments remained unchanged at a value of SAR 893,000 in Q1-24 when compared to the same quarter of the previous year.

Meanwhile, the assets of the listed company grew by 20.85% to SAR 4.11 billion at the end of March 2024 from SAR 3.40 billion in the corresponding period in 2023.

In the full year of 2023, Amlak International posted net profits worth SAR 31.80 million and investments of SAR 893,000.

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