Arriyadh Development has reported its headline figures for 2Q16. Net income was SAR133mn (+88% Y-o-Y, 145% Q-o-Q), operating loss was SAR135mn (+88% Y-o-Y, +152% Q-o-Q), while its gross profit was SAR140mn (+82% Y-o-Y, +141% Q-o-Q). This brings 1H16 net income to SAR187mn (+32% Y-o-Y), operating profit to SAR189mn (+31% Y-o-Y) and gross profit to SAR198mn (+29% Y-o-Y). Management attributed the Y-o-Y rise in net income in 2Q16 and 1H16 to income booked from its investment in a real estate fund with Alinma Investment Company. The company’s board has recommended SAR0.50/share in cash dividends for 1H16 profits, implying a DY of 2.2% on yesterday’s closing price. (Tadawul)