Ash-Sharqiyah Development Co. narrowed its net loss to SAR 186,000 in 2023, from SAR 3.2 million in the year before.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Operating Income | (3.11) | (6.10) | (95.9 %) |
| Net Income | (3.20) | (0.19) | 94.2 % |
| Average Shares | 19.66 | 30.00 | 52.6 % |
| EPS (Riyals) | (0.16) | (0.01) | 96.2 % |
The developer said it achieved returns on short-term investments by investing the liquidity available from the capital increase. It logged a profit from evaluating investments in investee companies at fair value, which recorded SAR 5.59 million that were not valued last year.
Ash-Sharqiyah turned a profit of SAR 1.7 million in Q4 2023 versus a loss of SAR 1.46 million in Q4 2022.
Quarter-on-quarter, the net profit jumped from SAR 0.18 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Operating Income | (0.87) | (1.47) | (69.7 %) |
| Net Income | (1.46) | 1.67 | 214.8 % |
| Average Shares | 19.66 | 30.00 | 52.6 % |
| EPS (Riyals) | (0.07) | 0.06 | 175.2 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Operating Income | (2.67) | (1.47) | 44.8 % |
| Net Income | 0.18 | 1.67 | 849.4 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.01 | 0.06 | 849.4 % |
Shareholders’ equity, no minority interest, stood at SAR 365.85 million as of Dec. 31, 2023, compared to SAR 139.18 million a year earlier.
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