Ash-Sharqiyah Development Co. narrowed its net loss after Zakat and tax to SAR 314,000 in Q1 2021, from SAR 510,000 in the year-earlier period.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Gross Income | (0.13) | (0.13) | 1.5 % |
| Operating Income | (0.50) | (0.52) | (4.2 %) |
| Net Income | (0.51) | (0.31) | 38.4 % |
| Average Shares | 19.65 | 19.65 | - |
| EPS (Riyals) | (0.03) | (0.02) | 38.4 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Gross Income | 0.31 | (0.13) | (142.2 %) |
| Operating Income | (0.83) | (0.52) | 37.6 % |
| Net Income | (0.77) | (0.31) | 59.1 % |
| Average Shares | 19.65 | 19.65 | - |
| EPS (Riyals) | (0.04) | (0.02) | 59.1 % |
The decrease in losses was attributed to lower depreciation expenses of some assets and equipment, in addition to a decline in financing expenses.
When compared to the previous quarter, Q1 2021 net loss after Zakat and tax narrowed by 59.1%.
The total shareholders equity (after deducting minority equity) stood at 142.69 million in Q1 2021, a decline of 1.41% from SAR 144.73 million in Q1 2020.
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