Saudi Real Estate has reported its headline figures for 2Q16. Net income was SAR19.0mn (-48.3% Y-o-Y, -28.8% Q-o-Q), operating profit was SAR45.7mn (+15.0% Y-o-Y, +4.2% Q-o-Q), while its gross profit was SAR53.3mn (+15.6% Y-o-Y, +4.2% Q-o-Q). This brings 1H16 net income to SAR45.6mn (-42.9% Y-o-Y), operating profit to SAR87.9mn (+10.8% Y-o-Y) and gross profit SAR104.4mn (+12.9% Y-o-Y). Management attributed the Y-o-Y drop in net income in 2Q16 and 1H16 to higher financing charges and to booked provisions related to the company’s investment in Arabian United Float Glass Company. (Tadawul)