Arab News, Sunday, Mar 13, 2022 | Sha'ban 10, 1443
Saudi Somou Real Estate posts 13% higher profits in 2021
Saudi Arabia:
Saudi developer Sumou Real Estate Co. saw over a 13-percent increase in
profit in 2021 on the bank of higher sales.
With revenue up 6 percent, profits of the
Nomu-listed firm soared to SR81 million, compared to SR71 million a year
earlier, a bourse filing revealed.
A return on investment of SR31.7 million as well
as the early settlement of outstanding loans have helped the company achieve
improved results during the year.
Along with strong earnings, the company’s board
proposed the distribution of SR0.5 per share in dividends for 2021.