Ash-Sharqiyah Development’s quarterly losses down 52.7%

Riyadh – Mubasher: Ash-Sharqiyah Development Company’s net losses dropped by 52.7% on a yearly basis during the July-September period of this year, standing at SAR 421.525 million.

The decline in third-quarter net losses was attributed to the decrease in bank financing expenses, according to a stock exchange statement on Monday.

Meanwhile, the company achieved capital gains from the sale of some of its dilapidated assets.

In the first nine months of 2020, the company's losses fell by 38.6% to reach SAR 1.4 billion.

Mubasher Contribution Time: 02-Nov-2020 06:33 (GMT)
Mubasher Last Update Time: 02-Nov-2020 06:33 (GMT)