Seef Properties reports BD 4.52 Million net profit attributable to parent for financial year ended 2020

Seef Properties reports BD 4.52 Million net profit attributable to parent for financial year ended 2020

Seef Properties B.S.C. recently announced its financial results for the financial year ended 31 December 2020, including the results of the fourth quarter of 2020.



The Company reported a net profit and comprehensive income of BD 0.88 million attributable to the parent during the fourth quarter of 2020, compared to BD 3.86 million for the same period of the previous year, with a decrease of 77.13% mainly attributable to revaluation of investment properties during these current conditions.



Diluted earnings per share attributable to the parent for the fourth quarter of 2020 amounted to 1.92 fils, compared to 8.39 fils for the same period the previous year.  The Company's operating profits stood at BD 3.20 million for the fourth quarter of 2020, compared to BD 3.65 million for the same period in the previous year, with a decrease of 12.18%.



The Company also reported net profit and comprehensive income attributable to the parent of BD 4.52 million for the year ended 31 December 2020, compared to BD 10.93 million for the same period in 2019, with a decrease of 58.59%. This decrease when compared to last year is mainly attributable to the repercussions of the COVID-19 pandemic, which include reduction