Financial Results : Ash-Sharqiyah incurs losses of SAR 5.6M in Q1 2025

Ash-Sharqiyah incurs losses of SAR 5.6M in Q1 2025

14/05/2025 Argaam Exclusive

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Ash-Sharqiyah Development Co. recorded a net loss of SAR 5.6 million against a net profit of SAR 1.2 million recorded in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 0.00 44.86 -
Gross Income 0.00 0.54 -
Operating Income (2.00) (6.61) (230.2 %)
Net Income 1.19 (5.65) (573.6 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) 0.04 (0.19) (573.6 %)
EPS (Riyal) 0.04 (0.19) (573.6 %)

The drop in profit was attributed to a decline in bank returns, as well as an increase in operating losses year-on-year (YoY) due to the requirements associated with the commencement of operational activities in the subsidiaries.

 

On the other hand, the company recorded revenues in Q1 2025 versus no revenues in Q1 2024, due to the commencement of the subsidiaries’ operations starting from Q2 2024.

 

On a quarterly basis, Ash-Sharqiyah trimmed its losses from SAR 12.95 million in Q4 2024.

 

Total shareholders’ equity, no minority interest, fell to SAR 352.64 million as of March 31, 2025, compared to SAR 367.04 million a year earlier.

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