Ash-Sharqiyah widens net losses to SAR 67.5 mln in FY19

29/03/2020 Argaam Exclusive

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Ash-Sharqiyah Development Co. widened net loss after Zakat and tax to SAR 67.5 million for the first fiscal year 2019, compared to net losses of SAR 6.7 million a year earlier.

The higher losses were attributed to excluding the difference of the company’s land from the accounts at an estimated value of SAR 63.3 million.

Financials (M)

Item	2018	2019	Change‬
Revenues	0.34	-	-
Gross Income	(1.01)	(0.94)	6.9 %
Operating Income	(7.20)	(4.10)	43.1 %
Net Income	(6.71)	(67.47)	(905.0 %)
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.34)	(3.43)	(905.0 %)

In Q4 2019, the company widened net losses to SAR 65.1 million, from SAR 0.9 million in year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Gross Income	(0.23)	(0.48)	(111.5 %)
Operating Income	(1.34)	(2.04)	(53.0 %)
Net Income	(0.93)	(65.13)	(6,903.7 %)
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.05)	(3.31)	(6,903.7 %)

Item	Q3 2019	Q4 2019	Change‬
Gross Income	(0.11)	(0.48)	(340.4 %)
Operating Income	(0.62)	(2.04)	(229.7 %)
Net Income	(0.89)	(65.13)	(7,210.2 %)
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.05)	(3.31)	(7,210.2 %)

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