Dar Al-Arkan Real Estate Development Co. (Dar Al-Arkan) has announced its headline figures for 3Q16. Revenue came in at SAR617.6mn (+14.2% Y-o-Y, +51.5% Q-o-Q). Gross profit came in at SAR245.2mn (+1.2% Y-o-Y, +32.8% Q-o-Q), while operating income came in at SAR201.9mn (+10.8% Y-o-Y, +54.1% Q-o-Q). Net income was SAR112.5mn (+21.4% Y-o-Y, +160.4% Q-o-Q). The quarterly growth was attributed to higher property sales revenue and lower operating expenses. 9M16 revenue totalled SAR1.46bn (-18.5% Y-o-Y), gross profit SAR621.5mn (-22.5% Y-o-Y); operating income SAR477.9mn (-20.7% Y-o-Y) and net income SAR213.6mn (-31.2% Y-o-Y). 9M16 numbers were dragged-down by lower property sales, according to management. (Tadawul)