Al Ahsa Development Co. reported a net loss of SAR 1.3 million for the fiscal year 2019 as compared to a net profit of SAR 7.22 million for FY2018.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 225.65 | 245.51 | 8.8 % |
| Gross Income | 52.73 | 69.38 | 31.6 % |
| Operating Income | (5.88) | (6.30) | (7.2 %) |
| Net Income | 7.22 | (1.28) | (117.8 %) |
| Average Shares | 49.00 | 49.00 | - |
| EPS (Riyals) | 0.15 | (0.03) | (117.8 %) |
These losses were driven by an increase in general and administrative expenses (G&As) and losses from associated companies, the company said in a bourse statement.
Revenues of the Saudi-based firm grew 8.79% YoY to SAR 245.5 million in FY 2019.
The company incurred SAR 7 million losses in Q4 2019, compared to a profit of SAR 8.51 million in the same period in 2018.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 61.42 | 69.00 | 12.3 % |
| Gross Income | 13.99 | 24.10 | 72.3 % |
| Operating Income | (2.18) | (6.56) | (201.4 %) |
| Net Income | 8.51 | (6.88) | (180.9 %) |
| Average Shares | 49.00 | 49.00 | - |
| EPS (Riyals) | 0.17 | (0.14) | (180.9 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 60.26 | 69.00 | 14.5 % |
| Gross Income | 15.68 | 24.10 | 53.7 % |
| Operating Income | 0.52 | (6.56) | (1364.7 %) |
| Net Income | 2.30 | (6.88) | (399.0 %) |
| Average Shares | 49.00 | 49.00 | - |
| EPS (Riyals) | 0.05 | (0.14) | (399.0 %) |
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