Arabian Centres Company (Cenomi Centers) recorded net profits after Zakat and tax amounting to SAR 388 million in the first quarter (Q1) of 2023, an annual jump of 125.71% from SAR 171.90 million.

The revenues hit SAR 576.80 million in Q1-23, higher by 11.09% than SAR 519.20 million as of 31 March 2022, according to the interim financial results.

Earnings per share (EPS) increased to SAR 0.81 during the first three months (3M) of 2023 from SAR 0.37 in the year-ago period.

On a quarterly basis, the Q1-23 net profits declined by 14.86% from SAR 455.70 million in Q4-22, while the revenues climbed by 4.72% from SAR 550.80 million.

Alison Rehill-Erguven, CEO of Cenomi Centers, highlighted: “In this past quarter we saw visitor footfall increase to 29.40 million, one of the highest numbers we have seen and an incredible feat for Q1.”

“Cenomi Centers will continue with its non-core asset sale programme, an important tool to further strengthen our balance sheet and liquidity position,” the CEO added.

In April-December 2022, the Saudi firm witnessed 2.37% higher net profits after Zakat and tax at SAR 804.70 million, compared to SAR 786.10 million during the same period a year earlier.

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