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Ash-Sharqiyah Development Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

SHARQIYAH DEV 6060 0.00% 15.82 0.00
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue - - - - -
Gross Profit (Loss) -101,540 -141,327 -28.152 -480,374 -78.862
Operational Profit (Loss) -495,769 -709,723 -30.146 -2,044,459 -75.75
Net Profit (Loss) after Zakat and Tax -510,141 -729,288 -30.049 -65,133,718 -99.216
Total Comprehensive Income -510,141 -729,288 -30.049 -65,130,461 -99.216
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total Share Holders Equity (after Deducting Minority Equity) 144,733,768 211,984,783 -31.724
Profit (Loss) per Share -0.07 -0.1
All figures are in (Actual) Saudi Arabia, Riyals
Element List Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to The decrease in net losses during this quarter compared to the same quarter in previous year due to reducing administrative expenses, which was result of reducing the number of company`s employees .
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason for the increase in net losses for the current quarter compared to the previous quarter is due to the following reasons:

First: The company was beared the expenses of the financial consultant of the real estate acquisition deal.

Second: The company was beared the losses of exclude the difference of the granted land area, after the decision was made to own the company of the land area granted from the total area

Basis of the External Auditor's Opinion Emphasis of Matter paragraph
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion We would like to draw attention to Note 1-C about the accompanying interim financial statements related to the issue of the continuity of the company, and as mentioned in Note 1-C, these events or circumstances indicate a fundamental uncertainty, which may cast a large doubt on the company's ability to remain as an entity Ongoing, and our conclusion has not been modified accordingly
Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to international financial reports standards
Additional Information We would like to draw attention to Note 1-C about the accompanying interim financial statements related to the issue of the continuity of the company, and as mentioned in Note 1-C, these events or circumstances indicate a fundamental uncertainty, which may cast a large doubt on the company's ability to remain as an entity Ongoing, and our conclusion has not been modified accordingly

Sales for the operating year are zero, due to the lack of any operating revenues during this year, as a result of the continued stoppage of the company's main activities that took place during the year 2018

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