Ash-Sharqiyah Development Co. widened net loss after Zakat and tax to SAR 67.5 million for the first fiscal year 2019, compared to net losses of SAR 6.7 million a year earlier.
The higher losses were attributed to excluding the difference of the company’s land from the accounts at an estimated value of SAR 63.3 million.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 0.34 | - | - |
| Gross Income | (1.01) | (0.94) | 6.9 % |
| Operating Income | (7.20) | (4.10) | 43.1 % |
| Net Income | (6.71) | (67.47) | (905.0 %) |
| Average Shares | 19.65 | 19.65 | - |
| EPS (Riyals) | (0.34) | (3.43) | (905.0 %) |
In Q4 2019, the company widened net losses to SAR 65.1 million, from SAR 0.9 million in year-earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Gross Income | (0.23) | (0.48) | (111.5 %) |
| Operating Income | (1.34) | (2.04) | (53.0 %) |
| Net Income | (0.93) | (65.13) | (6,903.7 %) |
| Average Shares | 19.65 | 19.65 | - |
| EPS (Riyals) | (0.05) | (3.31) | (6,903.7 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Gross Income | (0.11) | (0.48) | (340.4 %) |
| Operating Income | (0.62) | (2.04) | (229.7 %) |
| Net Income | (0.89) | (65.13) | (7,210.2 %) |
| Average Shares | 19.65 | 19.65 | - |
| EPS (Riyals) | (0.05) | (3.31) | (7,210.2 %) |
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