Financial Results : Ash-Sharqiyah narrows Q1 2021 net loss to SAR 314,000

Ash-Sharqiyah narrows Q1 2021 net loss to SAR 314,000

09/05/2021 Argaam Exclusive

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Ash-Sharqiyah Development Co. narrowed its net loss after Zakat and tax to SAR 314,000 in Q1 2021, from SAR 510,000 in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 0.00 0.00 -
Gross Income (0.13) (0.13) 1.5 %
Operating Income (0.50) (0.52) (4.2 %)
Net Income (0.51) (0.31) 38.4 %
Average Shares 19.65 19.65 -
Earnings Per Share before unusual items (Riyals) (0.03) (0.02) 38.4 %
EPS (Riyals) (0.03) (0.02) 38.4 %

The decrease in losses was attributed to lower depreciation expenses of some assets and equipment, in addition to a decline in financing expenses.

When compared to the previous quarter, Q1 2021 net loss after Zakat and tax narrowed by 59.1%.

 

The total shareholders equity (after deducting minority equity) stood at 142.69 million in Q1 2021, a decline of 1.41% from SAR 144.73 million in Q1 2020.

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