| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
7.99
|
49.16
|
-
|
18.06
|
-
|
| Gross profit (loss) |
64.45
|
106.25
|
-
|
79.71
|
-
|
| Operational profit (loss) |
5.9
|
45.54
|
-
|
18.7
|
-
|
| Earning or loss per share, Riyals |
0.15
|
0.89
|
-
|
-
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in the gross profit, operational profit and net profit in this period as compared with the same period of the last year is due to the following: 1- The decline in demand from individuals and corporate sector on hotels as a result of the decline in spending from government and private sector on conferences, meetings and exhibitions. This is in addition to the decline in the current Omrah season. 2- The seasonality in Companys operation which had a positive impact on companys results in Q1.2016 but had no impact on Q1.2017 as last year the mid-semester school holiday occurred in March 2016 while this year the mid-semester school holiday occurred in April 2017. 3- The decline in profit from associates due to seasonality in their operation. |
| Reasons of increase (decrease) for quarter compared with previous quarter | 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 decline in demand from individuals and corporate sector on hotels due to the decline in spending from government and private sector on conferences, meetings and exhibitions. This is in addition to the decline in the current Omrah season. It is worth noting that the company was able to obtain rent discount on a number of hotels and entertainment locations which positively impacted the results of Q4.2016. |
| Reclassifications in quarterly financial results | Certain figures of the previous year have been restated and reclassified to conform to the presentation for the current period presentation as per IFRS. For more information, refer to note (2.4) First-time adoption of IFRS of Condensed Interim Consolidated Financial Statements for the period ended 31-03-2017. |
| Other notes | Total revenues during current period amounted SR 258.32 million compared with SR 297.81 million for same period of last year with decrease of 13.3%. Gross Profit during current period amounted SR 64.45 million compared with SR 106.25 million for same period of last year with decrease of 39.3%. Operational Profit during current period amounted SR 5.9 million compared with SR 45.54 million for same period of last year with decrease of 87%. Net Profit during current period amounted SR 7.99 million compared with SR 49.16 million for same period of last year with decrease of 83.7%. Total Shareholders Equity (Minority interests are not available) amounted SR 695.86 million by end of this period compared with SR668.87 million as at the end of same period last year with increase of 4%. EPS for the current period amounted SR 0.15, compared with SR 0.89 for the same period of last year. The other comprehensive income for the current period is SR 7.99 million compared to SR 49.16 million for the same quarter last year with decrease of 83.7% and compared to SR 17.17 million for the last quarter with decrease of 53.5%. |
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