Ash-Sharqiyah cuts losses to SAR 186,000 in 2023; Q4 profit at SAR 1.7M

25/03/2024 Argaam Exclusive

Ash-Sharqiyah Development Co. narrowed its net loss to SAR 186,000 in 2023, from SAR 3.2 million in the year before.



Financials (M)

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.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Operating Income (0.87) (1.47) (69.7 %)
Net Income (1.46) 1.67 214.9 %
Average Shares 19.66 30.00 52.6 %
EPS (Riyals) (0.07) 0.06 175.3 %

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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Share Price

Ash-Sharqiyah Development Co.
19.18
(0.12) (0.62 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

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Financial Ratios
Current
Market Cap (M Riyal) 575.40
Enterprise Value (EV) (M) 397.85
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 12.49
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.54
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.9
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