Saudi Real Estate Company has announced its 4Q2015 results. Net income came in at SAR29.4 million (-77.8% Y-o-Y, -23.3% Q-o-Q), operating income came in at SAR42.0 million (-62.8% Y-o-Y, -5.4% Q-o-Q) and gross profit came in SAR52.4 million (-55.4% Y-o-Y, +4.6% Q-o-Q). This brings 2015 net income to SAR147.6 million (-46.6% Y-o-Y), operating profit SAR165.7 million (-27.5% Y-o-Y), and gross profit SAR194.9 million (-23.1% Y-o-Y). Management attributed the quarterly and annual decline in net income to the lack of land sales during the two periods. (Tadawul)