Saudi Real Estate Co. has announced its headline figures for 3Q16. Revenue grew 9.5% Y-o-Y to SAR77.7mn. Gross profit came in at SAR51.8mn (+3.3% Y-o-Y, -2.8% Q-o-Q), while operating income came in at SAR33.1mn (-25.5% Y-o-Y, -27.7% Q-o-Q). Net income was SAR19.8mn (-48.3% Y-o-Y, +4.6% Q-o-Q). 9M16 revenue totalled SAR225.0mn (+8.8% Y-o-Y), gross profit SAR156.1mn (+9.5% Y-o-Y); operating income SAR121.0mn (-2.2% Y-o-Y) and net income SAR65.4mn (-44.6% Y-o-Y). Management attributed the drop in net income Y-o-Y in 3Q16 and 9M16 to increased finance charges and the booking of provision for doubtful debt. (Tadawul)