1 Day
Source:
الاقتصادية
Saudi Daraya's Q2 profits drop 6%
Druyah Financial Company of Saudi Arabia achieved a 6% decrease in its net profits in the second quarter of the year, reaching 100.8 million riyals, despite a 2.3% increase in revenues to 240.6 million riyals. The rise in operating expenses by 15.9% led to a decline in profits, which is attributed to the company’s investments in initiatives to boost growth and enhance technical infrastructure. As a result, the expense-to-revenue ratio increased to 45%. Nonetheless, the company expects these initiatives to improve performance in the future. The Board of Directors approved a phased dividend payout of 80.7 million riyals and noted a 3.5% increase in the customer base during the first half of the year. Additionally, the company's assets have grown by 10% since the start of the year, reaching 36.9 billion riyals, with asset inflows continuing despite market fluctuations.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)