Financial Results : Ash-Sharqiyah Development loses SAR 5.3M in H1 2025, earns SAR 318,000 in Q2

Ash-Sharqiyah Development loses SAR 5.3M in H1 2025, earns SAR 318,000 in Q2

31/07/2025 Argaam Exclusive

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Ash-Sharqiyah Development Co. turned to a net loss of SAR 5.3 million in H1 2025, against a net profit of SAR 2.8 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 12.48 104.83 739.9 %
Gross Income 0.64 6.52 912.0 %
Operating Income (4.06) (8.05) (98.5 %)
Net Income 2.78 (5.33) (291.6 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.09 (0.18) (291.6 %)
EPS (Riyal) 0.09 (0.18) (291.6 %)

This was attributed to an increase in operating losses of subsidiaries and a decrease in returns on time deposits.

 

However, revenues grew in H1 2025 compared with the same period of 2024. This was driven by the commercial activity of Sado Al Arab Co. that began on June 1, 2024 and did not include revenues for the brokerage company, as commercial activity began in July 2024, while the current period included the revenues of both companies for a full six months.

 

The second-quarter net earnings dropped 80% to SAR 318,000 from SAR 1.59 million in Q2 2024, hurt by a decrease in time deposit returns as a result of strengthening subsidiaries.

 

On a sequential basis, the company turned to net earnings from a loss of SAR 5.65 million in Q1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 12.48 59.97 380.5 %
Gross Income 0.64 5.98 828.7 %
Operating Income (2.06) (1.44) 29.8 %
Net Income 1.59 0.32 (80.0 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) 0.05 0.01 (80.0 %)
EPS (Riyal) 0.05 0.01 (80.0 %)

Total shareholders’ equity, no minority interest, stood at SAR 352.97 million by the end of H1 2025, compared to SAR 368.64 million in the prior-year period.

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