Saudi Real Estate has reported its financial headlines for 4Q16. Revenue came in at SAR89.5mn (+24% Y-o-Y); operating income at SAR53.6mn (+27.6% Y-o-Y, +62% Q-o-Q), while gross profit was at SAR60.7mn (+15.9% Y-o-Y, +17.3% Q-o-Q). Net income came in at SAR26.1mn (-11.3% Y-o-Y, +31.5% Q-o-Q). Revenue totaled SAR314.5mn (+13% Y-o-Y) in 2016; operating income SAR174.6mn (+5.3% Y-o-Y), gross profit of SAR216.9mn (+11.3% Y-o-Y), while net income totaled SAR91.5mn (-38.0% Y-o-Y). Both 4Q16 and 2016 full-year result sets were supported by higher rental income and by realised sale of land; yet, the drop came on the back of a rise in financing costs, according to management. (Tadawul)