Al Akaria turns to losses of SAR 15.6 mln in 9M 2020

11/11/2020 Argaam Exclusive

View other reports

Saudi Real Estate Co. (Al Akaria) turned to a net loss after Zakat and tax of SAR 15.6 million for the first nine months of 2020, compared to a profit of SAR 49 million in the same period a year earlier, on booking provisions for financial asset impairments and provisions for capital project impairments.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	231.99	326.40	40.7 %
Gross Income	126.72	129.34	2.1 %
Operating Income	6.77	(8.22)	(221.4 %)
Net Income	48.98	(15.57)	(131.8 %)
Average Shares	276.53	276.53	-
EPS (Riyals)	0.18	(0.06)	(131.8 %)

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	87.78	132.48	50.9 %
Gross Income	43.54	44.16	1.4 %
Operating Income	(1.93)	(7.91)	(310.4 %)
Net Income	8.98	(8.01)	(189.3 %)
Average Shares	276.53	276.53	-
EPS (Riyals)	0.03	(0.03)	(189.3 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	95.80	132.48	38.3 %
Gross Income	38.72	44.16	14.1 %
Operating Income	(5.59)	(7.91)	(41.4 %)
Net Income	(4.65)	(8.01)	(72.2 %)
Average Shares	276.53	276.53	-
EPS (Riyals)	(0.02)	(0.03)	(72.2 %)

The company turned to losses of SAR 8 million in Q3 2020 from a profit of SAR 8.9 million in the same quarter a year earlier.

When compared to previous quarter, the developer widened its losses in Q3 2020.

The company's accumulated losses reached SAR 175 million as of Sept. 30 2020, representing 7% of the company's capital.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×