20/02/2013 08:28 AST

Saudi real estate company (Al Akaria) has announced the audited Financial results for the year ended December 31, 2012 as follows:

1. The net income of SR 179.5 million compared to the net income of SR 149.7 million for the previous year, which represents An Increase of 19.9%.

2. The earnings per share was SR 1.5 compared to SR 1.25 for the previous year.

3. The Gross profit of SR 178.3 million compared to SR 179.8 million for the previous year, which represents a decrease of 0.8%.

4. The income from operations of SR 161.4 million compared to SR 160.3 million for the previous year, which represents an increase of 0.7%.

5. The Increase in net income for the period ended December 31, 2012 compared to the same period in 2011 is due to the increase in rental income and charging the income statement of the same period 2011 the net unrealized loss due to management decision to demolish an old building.


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