Banan Real Estate Co. posted a net profit of SAR 26.5 million in 2022, a 9% increase from SAR 24.3 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 18.90 | 59.30 | 213.7 % |
| Gross Income | 16.31 | 47.94 | 194.0 % |
| Operating Income | 12.38 | 42.71 | 244.9 % |
| Net Income | 24.33 | 28.22 | 16.0 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.12 | 0.14 | 16.0 % |
The positive performance was driven by higher rental revenue due to the acquisition of a hotel apartment building in Al-Sulaimaniyah district, the Plaza 46 building in Qurtoba district, and the operating of the Block 14 building in the northern Al-Maather district.
This is in addition to rental revenue in the subsidiary company as a result of the acquisition of a commercial building in Al-Yasmeen district and including additional floors in Al-Haqbani centers in Al-Takhasosi Street, as well as raising stake in the subsidiary company by 3.5%.
Shareholders’ equity, no minority interest, stood at SAR 352.70 million as of Dec. 31, 2022, compared to SAR 338.83 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}