Riyadh Development Reports SAR 50.48M Net Profit in Three Months 2026
ARDCO 4150.SA | 0.00 |
On 2026-05-03 08:18:41 (Saudi Time), Riyadh Development Company announced its preliminary financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 103.89 | 69.54 | 49.396 | 73.87 | 40.638 |
| Gross Profit (Loss) | 76.56 | 42.6 | 79.718 | 43.89 | 74.436 |
| Operational Profit (Loss) | 37.23 | 25.7 | 44.863 | 19.18 | 94.108 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 50.48 | 42.07 | 19.99 | 44.58 | 13.234 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 50.48 | 42.07 | 19.99 | 44.58 | 13.234 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 4,178 | 3,990 | 4.711 |
| Profit (Loss) per Share | 0.22 | 0.2 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 49.396% YoY to 103.89 million, primarily driven by partial sales of non-strategic lands valued at 33 million and increased revenue from centers and markets. Net profit rose 19.99% YoY to 50.48 million despite recording a provision for white land fees of approximately 16.7 million, benefiting from the land sales and improved operational performance.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 40.638% to 103.89 million, primarily driven by partial sales of non-strategic lands valued at 33 million as part of the company's strategy to maximize returns on unutilized assets. Net profit rose 13.234% to 50.48 million despite recording a 16.7 million provision for white land fees, supported by 31 million gains from land sales, 2 million increase in associate company shares, and 3 million reduction in operating costs. However, growth was partially offset by the absence of approximately 25 million in other income recorded in the previous quarter.
Other Items
The external auditor issued an unmodified conclusion with no comments mentioned in other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Total shareholders equity increased 4.711% to 4,178 million compared to the previous year. Earnings per share improved to 0.22 from 0.20 in the same quarter last year. The company established two new subsidiaries during the period: Al-Rimal Logistics Park Company in September 2025 as a wholly-owned subsidiary with 10,000 capital and transferred approximately 98,000sqm of technical services land, and Hulul Salasil Imdad Almontajat Altazija Company in October 2025 with 500,000 capital, both aligned with the company's "Invest for Growth" strategy.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94880&anCat=1&cs=4150&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.