announced Riyadh Construction CompanyToday, Sunday, it announced the annual financial results for the year 2021, achieving a net profit growth of 39%.
The net profit amounted to 318.3 million riyals last year, compared to 227.9 million riyals in 2020.
Revenues grew by 5.55% to reach 250.9 million riyals, compared to 237.7 million riyals during the year 2020.
The reason for the increase in profits is due to the company’s profits from the results of the associate company’s business and the increase in operating and rental income, despite the increase in general and administrative expenses.
The company’s board of directors recommended the distribution of cash dividends of 50 halalas per share to the company’s shareholders for the second half of 2021, in addition to what was distributed for the first half of one riyal per share.
The total amount that will be distributed for the second half is regarding 88.9 million riyals.
