Ash-Sharqiyah Development Co. trimmed H1 2022 net loss after Zakat and tax to SAR 1 million, compared to SAR 2.7 million in the year-earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Gross Income | (0.26) | - | - |
| Operating Income | (3.34) | (1.64) | 50.9 % |
| Net Income | (2.74) | (1.01) | 63.4 % |
| Average Shares | 19.65 | 19.66 | 0.0 % |
| EPS (Riyals) | (0.14) | (0.05) | 63.4 % |
This was triggered by the absence of additional expenses and lower operating costs on reclassifying some items of expenses year-on-year.
The Saudi-listed firm narrowed Q2 2022 net loss after Zakat and tax to SAR 405,000, from SAR 2.43 million a year earlier, driven by the absence of any additional expenses that were recognized during this quarter, in addition to lower operating costs on reclassifying some items of expenses.
On a sequential basis, net loss shrank from SAR 600,000.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Gross Income | (0.13) | - | - |
| Operating Income | (2.82) | (0.76) | 73.1 % |
| Net Income | (2.43) | (0.41) | 83.3 % |
| Average Shares | 19.65 | 19.66 | 0.0 % |
| EPS (Riyals) | (0.12) | (0.02) | 83.3 % |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Operating Income | (0.88) | (0.76) | 13.8 % |
| Net Income | (0.60) | (0.41) | 32.6 % |
| Average Shares | 19.66 | 19.66 | - |
| EPS (Riyals) | (0.03) | (0.02) | 32.6 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 141.662 million by the end of H1 2022, compared to SAR 140.261 million in the year-earlier period.
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