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.
| 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.
| 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 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 182.59 | 162.92 | (10.8 %) |
| Gross Income | 49.07 | 62.13 | 26.6 % |
| Operating Income | (2.87) | 13.91 | 584.3 % |
| Net Income | (4.55) | (9.17) | (101.5 %) |
| Average Shares | 276.53 | 276.53 | - |
| EPS (Riyals) | (0.02) | (0.03) | (101.5 %) |
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