Financial Results : Al Akaria widens net loss to SAR 13.7 mln in H1 2021

Al Akaria widens net loss to SAR 13.7 mln in H1 2021

22/08/2021 Argaam Exclusive

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Saudi Real Estate Co. (Al Akaria) widened net losses after Zakat and tax to SAR 13.7 million for the first half of 2021, from SAR 7.6 million in the prior-year period.

 

Al Akaria reported an increase in the financing burdens due to the cessation of capitalization of the financing fees for Al-Widyan project, despite the increase in the activity's gross operating profit due to the expansion in subsidiaries activities.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 193.92 345.51 78.2 %
Gross Income 85.18 111.20 30.6 %
Operating Income (0.31) 11.04 3626.2 %
Net Income (7.56) (13.72) (81.5 %)
Average Shares 276.53 276.53 -
EPS (Riyals) (0.03) (0.05) (81.5 %)

The company widened net loss after Zakat and tax of SAR 9.2 million in Q2 2021, from SAR 4.7 million in the same period last year.

 

On a sequential basis, the company widened its net losses in Q2 2021.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 95.80 162.92 70.1 %
Gross Income 38.72 62.13 60.5 %
Operating Income (5.59) 13.91 348.7 %
Net Income (4.65) (9.17) (97.1 %)
Average Shares 276.53 276.53 -
EPS (Riyals) (0.02) (0.03) (97.1 %)

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