| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
31.9
|
50.2
|
-
|
57.2
|
-
|
| Gross profit (loss) |
91.4
|
86.4
|
5.79
|
119
|
-
|
| Operational profit (loss) |
27.5
|
47.6
|
-
|
52.9
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
189.8
|
196.5
|
- |
| Gross profit (loss) |
421.8
|
356.3
|
18.38 |
| Operational profit (loss) |
170.9
|
182.2
|
- |
| Earning or loss per share, Riyals |
3.45
|
3.57
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The increase in the gross profit in this quarter as compared with the same quarter last year is due to the opening of new entertainment centers and hotels during 2015. The decrease in the operational profit and net profit in this quarter as compared with the same quarter last year is due to the following: The expensing of pre-operating expenses related to the opening of new hotels in this quarter in accordance with applicable accounting standards. These expenses are exceptional and nonrecurring in the period that precedes the opening of the new hotels that have been announced on Tadawul (during 2015) Increase in the general and administrative expenses associated with the opening of the new hotels that have been announced on Tadawul (during 2015). Some of these hotels are still in the early stage of operation and would usually experience a gradual growth in the occupancy rates similar to the rates of any new hotel. The seasonality in the companys operations which usually improve during Public Holidays and vacations. The results of Q4,2014 were positively affected by Eid Al Adha holiday; however, the holiday of Eid Al Adha was in Q3, 2015. |
| Reasons of increase (decrease) for period compared with same period last year | The decrease in the gross profit ,operational profit and net profit in this quarter as compared with the previous quarter is due to the following: The expensing of pre-operating expenses related to the opening of new hotels in this quarter in accordance with applicable accounting standards. These expenses are exceptional and nonrecurring in the period that precedes the opening of the new hotels that have been announced on Tadawul (during 2015) Increase in the general and administrative expenses associated with the opening of the new hotels that have been announced on Tadawul (during 2015). Some of these hotels are still in the early stage of operation and would usually experience a gradual growth in the occupancy rates similar to the rates of any new hotel. The seasonality in the companys operations which usually improve during Public Holidays and vacations. As such, the results of Q3,2015 were positively affected by Eid Al Adha & Eid Al Fitr holidays. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The increase in the gross profit in this period as compared with the same period of the last year is due to the opening of 8 new entertainment centers and 4 new hotels during 2015. The decrease in the operational profit and net profit in this period as compared with the same period of last year is due to the following: The expensing of pre-operating expenses related to the opening of new hotels in this period in accordance with applicable accounting standards. These expenses are exceptional and nonrecurring in the period that precedes the opening of the 4 new hotels that have been announced on Tadawul (during 2015) Increase in the general and administrative expenses associated with the opening of the 4 new hotels that have been announced on Tadawul (during 2015). Some of these hotels are still in the early stage of operation and would usually experience a gradual growth in the occupancy rates similar to the rates of any new hotel. |
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