Ash-Sharqiyah Development turns to profit in H1

22/07/2015 Argaam Exclusive

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Share Price

20.94
(0.20) (0.95 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

 

Ash-Sharqiyah Development Company, a producer of agriculture and dairy products, reported a net profit of SAR 7.7 million for H1-2015, compared to a net loss of SAR 2.5 million for the same period last year. The turnaround was mainly attributed to higher sales, as well as the sale of the company's share in Taseel for a capital gain of SAR 5.73 million.



Financials (M)

Item 6m 2014 6m 2015 Change‬
Revenues 8.61 11.43 32.8 %
Gross Income (0.96) 4.32 551.4 %
Operating Income (2.96) 0.57 119.1 %
Net Income (2.49) 7.68 407.9 %
Average Shares 19.65 19.65 -
EPS (Riyals) (0.13) 0.39 407.9 %

 

The company posted a net profit of SAR 7 million in Q2, a 938 percent increase from SAR 674,300 posted in the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q2 2014 Q2 2015 Change‬
Revenues 4.36 6.06 38.9 %
Gross Income (0.38) 2.70 809.5 %
Operating Income (1.43) 0.51 135.6 %
Net Income (0.96) 7.00 832.3 %
Average Shares 19.65 19.65 -
EPS (Riyals) (0.05) 0.36 832.3 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2006 9.50 7.5 % (1.69) (38.0 %) (1.87) (126.9 %) (0.09)
Q2 2006 13.25 (1.3 %) 4.53 120.2 % 1.63 (74.3 %) 0.08
Q3 2006 16.85 22.0 % 7.25 176.4 % 4.61 126.9 % 0.23
Q4 2006 13.62 (29.9 %) (0.05) (101.1 %) (3.88) (232.3 %) (0.20)
Q1 2007 9.25 (2.6 %) (2.17) (28.4 %) (3.06) (64.0 %) (0.16)
Q2 2007 10.14 (23.5 %) 1.58 (65.2 %) (0.08) (105.1 %) 0.00
Q3 2007 10.55 (37.4 %) 3.42 (52.8 %) 2.15 (53.3 %) 0.11
Q4 2007 24.35 78.9 % 6.15 13178.7 % 3.53 191.0 % 0.18
Q1 2008 13.43 45.1 % (1.05) 51.7 % (2.48) 18.9 % (0.13)
Q2 2008 10.58 4.3 % 3.06 93.7 % (0.89) (966.3 %) (0.05)
Q3 2008 14.29 35.4 % 1.74 (49.1 %) (0.43) (119.9 %) (0.02)
Q4 2008 13.03 (46.5 %) (6.06) (198.5 %) (8.65) (344.8 %) (0.44)
Q1 2009 8.93 (33.5 %) 0.63 160.0 % (0.80) 67.9 % (0.04)
Q2 2009 8.99 (15.0 %) 1.69 (44.5 %) (0.10) 88.2 % (0.01)
Q3 2009 7.49 (47.6 %) (0.40) (122.9 %) (1.97) (359.0 %) (0.10)
Q4 2009 6.83 (47.6 %) (0.37) 93.9 % (1.94) 77.6 % (0.10)
Q1 2010 8.61 (3.6 %) (1.71) (371.9 %) (3.02) (279.6 %) (0.15)
Q2 2010 9.66 7.5 % 0.86 (49.2 %) (0.27) (163.5 %) (0.01)
Q3 2010 7.60 1.4 % 1.51 479.4 % 0.31 115.5 % 0.02
Q4 2010 9.56 40.1 % (0.66) (77.8 %) (2.10) (8.3 %) (0.11)
Q1 2011 9.05 5.1 % 0.67 139.2 % 0.27 109.0 % 0.01
Q2 2011 9.98 3.3 % 0.15 (82.8 %) (1.07) (291.6 %) (0.05)
Q3 2011 4.44 (41.6 %) (1.38) (191.1 %) (2.46) (906.6 %) (0.13)
Q4 2011 5.72 (40.2 %) (2.13) (223.9 %) (5.95) (182.8 %) (0.30)
Q1 2012 7.79 (13.9 %) (2.51) (474.0 %) 2.59 848.4 % 0.13
Q2 2012 7.32 (26.7 %) (0.86) (680.4 %) (2.39) (122.7 %) (0.12)
Q3 2012 4.72 6.3 % (0.92) 33.5 % (1.85) 24.6 % (0.09)
Q4 2012 0.72 (87.3 %) 0.69 132.1 % (1.71) 71.2 % (0.09)
Q1 2013 5.22 (33.0 %) (1.79) 28.5 % (1.76) (168.0 %) (0.09)
Q2 2013 4.81 (34.3 %) (0.02) 97.6 % (1.35) 43.5 % (0.07)
Q3 2013 3.85 (18.4 %) (0.05) 94.4 % (1.52) 18.2 % (0.08)
Q4 2013 3.76 419.1 % (0.82) (219.0 %) (0.94) 44.9 % (0.05)
Q1 2014 4.25 (18.5 %) (0.26) 85.7 % (1.53) 12.9 % (0.08)
Q2 2014 4.36 (9.3 %) (0.38) (1,709.5 %) (0.96) 29.2 % (0.05)
Q3 2014 4.00 3.9 % 0.36 798.0 % (0.20) 87.1 % (0.01)
Q4 2014 6.80 81.0 % 1.11 236.7 % 0.22 122.8 % 0.01
Q1 2015 5.38 26.4 % 1.62 732.4 % 0.67 144.0 % 0.03
Q2 2015 6.06 38.9 % 2.70 809.5 % 7.00 832.3 % 0.36

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 12.83 % 23.10 % 16.83 %
Q2 2006 17.29 % 35.85 % 8.45 %
Q3 2006 24.24 % 41.38 % 12.39 %
Q4 2006 18.87 % 38.93 % 0.93 %
Q1 2007 18.05 % 32.54 % (1.32 %)
Q2 2007 13.26 % 36.69 % (4.84 %)
Q3 2007 6.38 % 32.85 % (11.18 %)
Q4 2007 16.52 % 44.79 % 4.69 %
Q1 2008 17.26 % 42.08 % 5.34 %
Q2 2008 19.65 % 27.78 % 3.94 %
Q3 2008 15.79 % 27.39 % (0.42 %)
Q4 2008 (4.50 %) 40.90 % (24.25 %)
Q1 2009 (1.35 %) 51.07 % (22.98 %)
Q2 2009 (4.40 %) 53.86 % (22.06 %)
Q3 2009 (10.75 %) 53.10 % (29.97 %)
Q4 2009 4.82 % 20.29 % (14.92 %)
Q1 2010 (2.46 %) 15.69 % (22.05 %)
Q2 2010 (4.97 %) 12.26 % (22.11 %)
Q3 2010 0.90 % 17.50 % (15.08 %)
Q4 2010 0.02 % 18.31 % (14.38 %)
Q1 2011 6.66 % 23.05 % (5.02 %)
Q2 2011 4.63 % 23.66 % (7.18 %)
Q3 2011 (3.69 %) 15.39 % (16.24 %)
Q4 2011 (9.23 %) 8.39 % (31.54 %)
Q1 2012 (21.01 %) (3.09 %) (24.67 %)
Q2 2012 (27.22 %) (12.99 %) (32.49 %)
Q3 2012 (25.11 %) (7.97 %) (29.76 %)
Q4 2012 (17.51 %) 3.30 % (42.11 %)
Q1 2013 (16.04 %) 8.30 % (72.32 %)
Q2 2013 (13.22 %) 10.41 % (76.86 %)
Q3 2013 (8.07 %) 19.66 % (79.13 %)
Q4 2013 (15.19 %) 8.06 % (27.29 %)
Q1 2014 (6.86 %) 13.52 % (27.51 %)
Q2 2014 (9.26 %) 16.90 % (26.28 %)
Q3 2014 (6.69 %) 6.58 % (19.15 %)
Q4 2014 4.29 % 19.21 % (16.44 %)
Q1 2015 13.19 % 24.91 % (7.55 %)
Q2 2015 26.01 % 31.22 % 0.41 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 19.65 0.48 0.48 5.66
Q2 2006 19.65 0.24 0.24 5.74
Q3 2006 19.65 0.37 0.37 5.98
Q4 2006 19.65 0.03 0.03 5.78
Q1 2007 19.65 (0.04) (0.04) 5.62
Q2 2007 19.65 (0.12) (0.12) 5.62
Q3 2007 19.65 (0.25) (0.25) 5.73
Q4 2007 19.65 0.13 0.13 5.91
Q1 2008 19.65 0.16 0.16 5.78
Q2 2008 19.65 0.12 0.12 5.74
Q3 2008 19.65 (0.01) (0.01) 5.71
Q4 2008 19.65 (0.63) (0.63) 5.27
Q1 2009 19.65 (0.55) (0.55) 4.51
Q2 2009 19.65 (0.51) (0.51) 4.51
Q3 2009 19.65 (0.59) (0.59) 4.41
Q4 2009 19.65 (0.24) (0.24) 4.31
Q1 2010 19.65 (0.36) (0.36) 4.15
Q2 2010 19.65 (0.37) (0.37) 4.14
Q3 2010 19.65 (0.25) (0.25) 4.16
Q4 2010 19.65 (0.26) (0.26) 4.05
Q1 2011 19.65 (0.09) (0.09) 4.06
Q2 2011 19.65 (0.13) (0.13) 4.01
Q3 2011 19.65 (0.27) (0.27) 3.88
Q4 2011 19.65 (0.47) (0.47) 3.58
Q1 2012 19.65 (0.35) (0.35) 3.71
Q2 2012 19.65 (0.42) (0.42) 3.59
Q3 2012 19.65 (0.39) (0.39) 3.50
Q4 2012 19.65 (0.17) (0.44) 3.41
Q1 2013 19.65 (0.39) (0.66) 3.32
Q2 2013 19.65 (0.34) (0.61) 3.25
Q3 2013 19.65 (0.32) (0.59) 3.17
Q4 2013 19.65 (0.28) (0.24) 3.12
Q1 2014 19.65 (0.27) (0.23) 3.05
Q2 2014 19.65 (0.25) (0.22) 3.00
Q3 2014 19.65 (0.18) (0.16) 2.99
Q4 2014 19.65 (0.13) (0.16) 3.00
Q1 2015 19.65 (0.01) (0.08) 3.03
Q2 2015 19.65 0.39 0.00 3.39

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 More than 50 More than 50 6.84
Q2 2006 More than 50 More than 50 11.96
Q3 2006 More than 50 More than 50 14.68
Q4 2006 More than 50 More than 50 5.65
Q1 2007 NEG NEG 8.19
Q2 2007 NEG NEG 6.82
Q3 2007 NEG NEG 7.15
Q4 2007 More than 50 More than 50 6.31
Q1 2008 More than 50 More than 50 3.98
Q2 2008 More than 50 More than 50 3.91
Q3 2008 NEG NEG 1.87
Q4 2008 NEG NEG 1.97
Q1 2009 NEG NEG 3.00
Q2 2009 NEG NEG 6.89
Q3 2009 NEG NEG 6.51
Q4 2009 NEG NEG 5.13
Q1 2010 NEG NEG 4.95
Q2 2010 NEG NEG 4.91
Q3 2010 NEG NEG 5.01
Q4 2010 NEG NEG 5.74
Q1 2011 NEG NEG 5.62
Q2 2011 NEG NEG 5.29
Q3 2011 NEG NEG 6.40
Q4 2011 NEG NEG 13.31
Q1 2012 NEG NEG 8.91
Q2 2012 NEG NEG 7.01
Q3 2012 NEG NEG 8.55
Q4 2012 NEG NEG 9.92
Q1 2013 NEG NEG 9.84
Q2 2013 NEG NEG 10.58
Q3 2013 NEG NEG 11.99
Q4 2013 NEG NEG 10.31
Q1 2014 NEG NEG 12.20
Q2 2014 NEG NEG 15.45
Q3 2014 NEG NEG 21.44
Q4 2014 NEG NEG 14.15
Q1 2015 NEG NEG 13.54
Q2 2015 More than 50 More than 50 13.72

Current
Market Cap (M Riyal) 627.00
Enterprise Value (EV) (M) -
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.09
Book Value (BV) ( Riyal) 4.67
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 50
P/E (TTM) More than 50
Price/book 1.71
Return on Average Assets (%) (TTM) 0.6
Return on Average Equity (%) (TTM) 0.7

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