Dar Al Arkan reports higher quarterly income

April 19, 2014 2:34 am

Saudi real estate developer, Dar Al Arkan has posted a 4.3% increase in first-quarter net profit, thanks to higher sales of its developed properties, Reuters has reported. The kingdom’s largest listed property developer made a net profit of SR247.9m ($66.1m), compared with SR237.6m in the corresponding period in 2013. The company said in February that it may consider early repayment of a $450m sukuk due to mature in February 2015.