Ash-Sharqiyah Development Co. reported a net loss of SAR 1.9 million for the first nine months of 2023, from SAR 1.7 million a year earlier.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Operating Income | (2.24) | (4.62) | (106.0 %) |
| Net Income | (1.74) | (1.86) | (6.6 %) |
| Average Shares | 19.66 | 30.00 | 52.6 % |
| EPS (Riyals) | (0.09) | (0.06) | 30.2 % |
The higher losses were due to lower other revenues as a result of not collecting dividends from investee companies compared with a year earlier, in addition to recording financing charges due to the company’s full payment of its dues during this period.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Operating Income | (0.60) | (2.67) | (341.7 %) |
| Net Income | (0.74) | 0.18 | 123.9 % |
| Average Shares | 19.66 | 30.00 | 52.6 % |
| EPS (Riyals) | (0.04) | 0.01 | 115.7 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Operating Income | (1.16) | (2.67) | (129.4 %) |
| Net Income | (1.22) | 0.18 | 114.4 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | (0.04) | 0.01 | 114.4 % |
The company turned to a net profit of SAR 176,000 in Q3 2023, against a net loss of SAR 74,000 in Q3 2022, after achieving returns on investment in Murabaha transactions.
Sequentially, Ash-Sharqiyah turned to profit against a loss of SAR 1.22 million in Q2 2023.
Total shareholders’ equity, no minority interest, fell to SAR 358.48 million as of Sept. 30, 2023, from SAR 140.92 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}