Ash-Sharqiyah Development narrows H1 2022 loss to SAR 1 mln; Q2 at SAR 405,000

25/08/2022 Argaam Exclusive

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.



Financials (M)

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.



Current Quarter Comparison (M)

Compared With The
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 %

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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Share Price

Ash-Sharqiyah Development Co.
20.36
(0.16) (0.78 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

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Financial Ratios
Current
Market Cap (M Riyal) 610.80
Enterprise Value (EV) (M) 424.29
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.15
Book Value (BV) ( Riyal) 12.29
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.66
Return on Average Assets (%) (TTM) 1.2
Return on Average Equity (%) (TTM) 1.3
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