Riyadh – Mubasher: Built Industrial Company, a subsidiary of listed Ladun Investment Company, won a project contract worth SAR 57.47 million from the General Authority for Statistics (GASTAT) on 20 June.
Built Industrial will manage the civil, architectural, electrical, sanitary, and drainage works of the Riyadh Tower building.
In a bourse filing, the listed company highlighted that the project will reflect positively on its income statements during 2023 and the beginning of 2024.
Meanwhile, the two entities are expected to sign the deal on 18 July.
Last year, Ladun Investment achieved net profits after Zakat and tax valued at SAR 60.19 million, down 25.51% from SAR 80.80 million in 2021.
The revenues increased by 14.46% to SAR 881.17 million in 2022 from SAR 769.82 million a year earlier, while the earnings per share (EPS) declined to SAR 1.20 from SAR 1.62.
