Saudi Real Estate profits rise 46% in Q2

Profits went down by 32.2% quarter-on-quarter

  
Image used for illustrative purpose. General view of Dar Al-Arkan's Al Qasr project in Riyadh October 25, 2009.

Image used for illustrative purpose. General view of Dar Al-Arkan's Al Qasr project in Riyadh October 25, 2009.

REUTERS/Fahad Shadeed
Riyadh - Mubasher: Saudi Real Estate Company (SREC) reported a 46.2% rise in profits for the second quarter of the year.

Net profits amounted to SAR 30.27 million in Q2-18, compared with SAR 20.71 million for the same period last year, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

On the other hand, profits went down by 32.2% quarter-on-quarter.

In the first half of the year, profits grew by 5.17% to SAR 74.9 million from SAR 71.22 million in H1-17.

Source: Mubasher

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