Saudi Real Estate Co. (Al Akaria) widened net losses after Zakat and tax by 1.8% year-on-year (YoY) to SAR 186.4 million for FY2019, driven by lower revenue from leasing, lower occupancy rates and higher operating expenses on subsidiaries' expansions.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 296.57 | 338.02 | 14.0 % |
| Gross Income | 185.20 | 171.63 | (7.3 %) |
| Operating Income | 39.04 | (84.65) | (316.9 %) |
| Net Income | (183.07) | (186.35) | (1.8 %) |
| Average Shares | 276.53 | 276.53 | - |
| EPS (Riyals) | (0.66) | (0.67) | (1.8 %) |
The real estate developer trimmed Q4 2019 net losses by 13% YoY to SAR 235.3.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 64.14 | 106.03 | 65.3 % |
| Gross Income | 36.56 | 44.92 | 22.8 % |
| Operating Income | (19.17) | (91.42) | (376.9 %) |
| Net Income | (270.64) | (235.33) | 13.0 % |
| Average Shares | 276.53 | 276.53 | - |
| EPS (Riyals) | (0.98) | (0.85) | 13.0 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 87.78 | 106.03 | 20.8 % |
| Gross Income | 43.54 | 44.92 | 3.2 % |
| Operating Income | (1.93) | (91.42) | (4,644.2 %) |
| Net Income | 8.98 | (235.33) | (2721.8 %) |
| Average Shares | 276.53 | 276.53 | - |
| EPS (Riyals) | 0.03 | (0.85) | (2721.8 %) |
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