Riyadh-Amlak
Dar Al Arkan Real Estate Development Company published the preliminary financial results for the period ended 31/03/2013, which showed a net profit for the first quarter of SAR 237.6 million, compared to SAR 292.6 million for the corresponding quarter of the previous year, a decrease of 18.8%, and compared to SAR 144 million for the fourth quarter of 2012, an increase of 65%.

The total profit for the first quarter was SAR 375.6 million, compared to SAR 367.5 million for the corresponding quarter of the previous year, an increase of 2.21 TP3T. Gross profit for the first quarter amounted to SAR 375.6 million, compared to SAR 367.5 million for the same quarter last year, an increase of 2.2%. Operating profit for the first quarter amounted to SAR 318.2 million, compared to SAR 330.6 million for the same quarter of the previous year, a decrease of 3.8%. Earnings per share for the first quarter amounted to SAR 0.22, compared to SAR 0.The reason for the decrease in the current quarter compared to the same quarter of the previous year is due to the decrease in other non-operating income, in addition to the increase in operating expenses, partially offset by an increase in the profit margin for real estate sales and leasing and growth in leasing revenues by 435% due to the growth in occupancy rates in the company's residential and commercial properties for leasing in the Riyadh and Mecca regions, as the reason for the increase in the current quarter compared to the fourth quarter of 2012 is due to the higher profit margin for real estate sales and lower financing charges and the higher profit margin from