Ash-Sharqiyah Development Company Announces Interim Financial Results

20/01/2013 08:47 AST

ASH-SHARQIYAH DEVELOPMENT COMPANY ANNOUNCES INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING 31/12/2012

1.the total net loss during the fourth quarter S.R1.71 million compared to S.R 5.95 million for the same quarter of last year with a decrease of 71.26 % compared with of S.R 1.85 million for the previous quarter with a decrease of 7.57%

2.the gross loss during the fourth quarter amount to S.R 181 thousand compared with S.R 1.76 million for the same quarter of last year with a decrease of 89.71% .

3.the total operational loss during fourth quarter amount to S.R 1.91 million compared with S.R 4.24 million for the same quarter of last year with a decrease of 54.95%.

4.the total net loss during the Twelve months amount to S.R 3.37 million compared with S.R 9.21 million for the same period of last year with a decrease of 63.41%.

5.the loss per share SR 0.45 during the Twelve months, compared with SR 1.23 for the same period of last year .

6.the gross loss in the Twelve months amount to S.R 3.60 million compared with S.R 1.70 million for the same period of last year with an increase of 111.76%.

7.the total operational loss during the Twelve months amount to S.R 8.85 million compared with S.R7.85 million for the same period the last year with an increase of 12.74%.

8.The reason for the decreased of losses in the Current quarter compared to the same quarter of the previous year is due to increase sales as a result of increase in the prices of some products in addition to carrying the fourth quarter of 2011 losses from investments in associates.

9.The reason for the decreased of losses during the current period compared to the corresponding period of the previous year is due to a profit from the sale of the company's share in Al-Ahsa food industry company which resulted in get amount to S.R5.3 million

10.The reason for the decreased of losses in the Current quarter compared to the previous quarter is due to the same reasons set forth in item (8) In addition to the presence of the profits from long-term investments.

11.reclassification of certain comparative figures for the previous period to suit display for the current period

Tadawul