Al Ramz Real Estate’s net profits fall 94% in Q3-26

ALRAMZ
4327 -2.13% 52.85 -1.15

Riyadh – Mubasher: Al Ramz Real Estate Company recorded a 94.09% year-on-year (YoY) drop in net profit for the third quarter (Q3) of 2026, hitting SAR 10.13 million, versus SAR 171.43 million.

The company attributed the decrease to the absence of sales from real estate under development, which contributed SAR 552.70 million in the prior-year quarter.

The revenues shrank by 57.53% to SAR 271.68 million. Despite the quarterly downturn, nine-month revenues rose by 37.08% to SAR 1.18 billion, supported by off-plan sales and development for third parties.

Excluding property development sales, nine-month revenue grew by 107.10% to SAR 641.60 million.

Profitability was further impacted by rising operating expenses, which increased by 39.90% to SAR 57.70 million during the nine-month period, alongside higher financing costs due to increased borrowing.

Investment revaluation gains also fell to SAR 12.50 million from SAR 66.80 million a year earlier.

Earnings per share (EPS) stood at SAR 1.50, down from SAR 8.10 in the corresponding period of 2025. Total shareholders' equity hiked by 93.72% to SAR 1.85 billion.

In the six-month period that ended on 30 June 2026, the company posted net profits valued at SAR 54.31 million.

Source: Mubasher Source: {{details.article.source}}