Ash-Sharqiyah Development Co. widened its net loss after Zakat and tax to SAR 601,000 in Q1 2022, from SAR 313,942 in year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Gross Income | (0.13) | - | - |
| Operating Income | (0.52) | (0.88) | (70.2 %) |
| Net Income | (0.31) | (0.60) | (91.4 %) |
| Average Shares | 19.65 | 19.66 | 0.0 % |
| EPS (Riyals) | (0.02) | (0.03) | (91.4 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Operating Income | (0.69) | (0.88) | (28.3 %) |
| Net Income | 3.27 | (0.60) | (118.4 %) |
| Average Shares | 19.65 | 19.66 | 0.0 % |
| EPS (Riyals) | 0.17 | (0.03) | (118.4 %) |
The increase in losses was attributed to higher general and administrative expenses during this quarter due to recording the salaries and entitlements of the CEO as he was not appointed in the first quarter of 2021.
When compared to the previous quarter, the company tuned to loss from a profit of SAR 3.27 million.
Total shareholders’ equity, after minority interest, stood at SAR 142.1 million at the end of Q1 2022, compared to SAR 142.7 million a year before.
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