Arriyadh Development Company reported preliminary financial results for the fourth quarter and full year ended Dec. 31, 2012. For the fourth quarter, the company reported net profit of SAR 71.2 million compared to SAR 36.5 million for the corresponding quarter of the previous year and an increase of 95%, compared with SAR 28.7 million for the previous quarter and an increase of 148%. Gross profit in the fourth quarter to SAR 79.7 million compared to SAR 36.2 million for the corresponding quarter of the previous year, an increase of 120%. The operating profit during the fourth quarter of SAR 76.4 million compared to SAR 33.2 million for the corresponding quarter of the previous year, an increase of 130%.

Net profit for the twelve months was SAR 228.9 million compared to SAR 130.2 million for the same period of the previous year and an increase of 76%. Earnings per share during the twelve months SAR 2.29 versus SAR 1.30 for the same period of the previous year. The gross profit during the twelve months SAR 250.2 million compared to SAR 141.9 million for the same period of the previous year and an increase of 76%. The operating profit during the twelve months SAR 234.3 million compared to SAR 129.5 million for the same period of the previous year and an increase of 81%. The reason for the rise in the current quarter compared to the same quarter of the previous year to increase the activity of the sale of land. The reason for the rise in the current period compared to the corresponding period of the previous year to increase the activity of the sale of land. The reason for the rise in the current quarter compared to the previous quarter of this year to increase the activity of the sale of land.