Riyadh – Mubasher: Arriyadh Development Co. posted 55.4% growth in net profit for the fiscal year ended 31 December, 2015 to SAR 294.4 million, up from SAR 189.4 million in the prior-year period.
Net profit for the fourth quarter of 2015 amounted to SAR 84.5 million, a rise of 58% year-on-year from SAR 53.4 million.
The profit rise in the fourth quarter and in FY15 was boosted by improved activity in land sales, coupled with stronger operating revenues.
