Saudi: Sumou Real Estate records 17% higher profits in Q1-25
Sumou Real Estate Company logged net profits amounting to SAR 22.36 million in the first quarter (Q1) of 2025, an annual growth of 16.99% from SAR 19.11 million.
The company's sales hiked by 25.34% year-on-year (YoY) to SAR 101.49 million in Q1-25 from SAR 80.96 million, according to the interim financial results.
Earnings per share (EPS) stood at SAR 0.44 in the first three months (3M) of 2025 from SAR 0.38 a year earlier.
Quarterly, the Q1-25 net profits dropped by 4.14% from SAR 23.32 million in Q4-24, while the revenues retreated by 9.28% from SAR 111.88 million.
Earlier in April, Sumou Real Estate inked a SAR 680 million development agreement with the National Housing Company to establish more than 900 Residential Villas in the Makkah Gate project.
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