Ash-Sharqiyah Development widens net loss to SAR 2.7 mln in H1 2021

18/08/2021 Argaam Exclusive

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Ash-Sharqiyah Development Co. widened net loss after Zakat and tax by more than two-fold to SAR 2.7 million in H1 2021, from SAR 1.01 million in year-earlier period, driven by recording the full dues of the CEO, in addition to the reclassification of some expenses.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Gross Income	(0.20)	(0.26)	(28.1 %)
Operating Income	(1.03)	(3.34)	(225.0 %)
Net Income	(1.01)	(2.74)	(170.6 %)
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.05)	(0.14)	(170.6 %)

The company widened net loss after Zakat and tax to SAR 2.43 million in Q2 2021, from SAR 504,345 in year-earlier period, due to recording the CEO’s dues for the previous periods during the current quarter, in addition to the reclassification of some expenses.

On a sequential basis, losses widened to SAR 2.43 million, from SAR 313,942 in Q1 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Gross Income	(0.10)	(0.13)	(28.4 %)
Operating Income	(0.53)	(2.82)	(430.8 %)
Net Income	(0.50)	(2.43)	(382.1 %)
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.03)	(0.12)	(382.1 %)

Item	Q1 2021	Q2 2021	Change‬
Gross Income	(0.13)	(0.13)	(1.6 %)
Operating Income	(0.52)	(2.82)	(446.2 %)
Net Income	(0.31)	(2.43)	(673.9 %)
Average Shares	19.65	19.65	-
EPS (Riyals)	(0.02)	(0.12)	(673.9 %)

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