Dar al-Arkan (4300.SE), Saudi Arabia's biggest property developer, reported a 31.5 percent drop in first-quarter net profit, the company said in a bourse statement on Wednesday, missing analyst forecasts.
Dar al-Arkan made 273 million riyals ($72.8 million) in the three months to end-March, down from 398.6 million in the same period a year earlier.
Analysts surveyed by Reuters on averge expected the firm to post a net profit of 342.0 million riyals.
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