Al Akaria narrows losses to SAR 140.7 mln in 2020

30/03/2021 Argaam Exclusive

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Saudi Real Estate Co.
20.00
(0.20) (0.99 %)

Saudi Real Estate Co. (ALAKARIA)

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Saudi Real Estate Co. (Al Akaria) narrowed net loss after Zakat and tax to SAR 140.7 million in 2020, compared to a loss of SAR 186.4 million in 2019.



Financials (M)

Item 2019 2020 Change‬
Revenues 338.02 553.47 63.7 %
Gross Income 171.63 185.45 8.1 %
Operating Income (84.65) (77.08) 8.9 %
Net Income (186.35) (140.74) 24.5 %
Average Shares 276.53 276.53 -
EPS (Riyals) (0.67) (0.51) 24.5 %

The improvement was attributed to lower rental revenues, real estate investments’ value and capital business, along with higher activity costs.

 

The firm also noted booking provisions for costs value paid in advance and other receivables, in addition to provisions for properties and equipment impairments.

 

The company narrowed loss after Zakat and tax to SAR 125.1 million in Q4 2020, compared to a loss of SAR 235.33 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 106.03 227.07 114.2 %
Gross Income 44.92 56.12 24.9 %
Operating Income (91.42) (68.86) 24.7 %
Net Income (235.33) (125.17) 46.8 %
Average Shares 276.53 276.53 -
EPS (Riyals) (0.85) (0.45) 46.8 %

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