Dar Al Arkan Real Estate Development Company reported earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net profit of SAR 156.8 million against SAR 144 million for the same period in the last year. Operational profit was SAR 220.8 million against SAR 242 million for the same period in the last year. The increase in net income is driven firstly by higher margins from properties sold, which is attributable to the degree of development and geographical location of property. Secondly due to increase in non-operating income, driven by deposit income, and finally due to lower operating expenses driven by lower marketing and consultancy fees.

For the year, the company reported net profit of SAR 681.5 million against SAR 988.5 million for the same period in the last year. Operational profit was SAR 970.4 million or SAR 0.63 per share against SAR 1,184.4 million or SAR 0.92 per share for the same period in the last year.