Riyadh – Ash-Sharqiyah Development Company posted a 30% decline in quarterly losses for the three-month period ended 31 March 2020.
Net losses amounted to SAR 510,141 for the first quarter (Q1) of the year, compared to SAR 729,288 for the corresponding period of 2019.
The decrease in net losses was attributed by the company to reducing administrative expenses, after reducing the number of employees, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Sunday.
It is worth noting that in Q4-19, the company incurred losses of more than SAR 65 million.
Source: Mubasher
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