Arriyadh Development Company (Arriyadh) has announced its financial headlines for 4Q2015. Net income came in at SAR84.5 million (+58.2% Y-o-Y, +24.5% Q-o-Q). Operating profit came in at SAR85.2 million (+110.9% Y-o-Y, +22.9% Q-o-Q). Gross profit came in at SAR96.6 million (+121.6% Y-o-Y, +16.1% Q-o-Q). This brings 2015 net income to SAR294.4 million (+55.4% Y-o-Y), operating profit to SAR298.9 million (+69.7% Y-o-Y) and gross profit to SAR333.5 million (+76.9% Y-o-Y). The growth was mainly driven by an increase in land sales, according to management. The board has recommended the distribution of SAR1.3/share in cash dividend for shareholders as of the end of the trading session of the day of the AGM. This implies 9.4% on yesterday’s close. (Tadawul)