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Press Dossier   News Category    Real Estate    Saudi Somou Real Estate posts 13% higher profits in 2021

Arab News, Sunday, Mar 13, 2022 | Sha'ban 10, 1443

Saudi Somou Real Estate posts 13% higher profits in 2021

Saudi Arabia: Saudi developer Sumou Real Estate Co. saw over a 13-percent increase in profit in 2021 on the bank of higher sales.

With revenue up 6 percent, profits of the Nomu-listed firm soared to SR81 million, compared to SR71 million a year earlier, a bourse filing revealed.

A return on investment of SR31.7 million as well as the early settlement of outstanding loans have helped the company achieve improved results during the year.

Along with strong earnings, the company’s board proposed the distribution of SR0.5 per share in dividends for 2021.
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