| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
9
|
55.8
|
-
|
14.8
|
-
|
| Gross profit (loss) |
79.6
|
123.8
|
-
|
77.6
|
2.58
|
| Operational profit (loss) |
7.2
|
57.2
|
-
|
10.7
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
31.8
|
121.5
|
- |
| Gross profit (loss) |
221.6
|
312.2
|
- |
| Operational profit (loss) |
23.9
|
114.9
|
- |
| Earning or loss per share, Riyals |
0.58
|
2.21
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decline in gross profit, operational profit and net profit of the quarter as compared to the same quarter 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. In addition to the increase in market competition which affected the Average daily room revenue. 2- decline in company's revenue due to the operation seasonality in Entertainment Division as last year Eid Al Fitr and Eid Al Adha occurred in third quarter compared with this year third quarter only Eid Al Adha. 3- The decline in profit from associates. |
| Reasons of increase (decrease) for period compared with same period last year | The decline in gross profit, operational profit and net profit of the period as compared to 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. In addition to the increase in market competition which affected the Average daily room revenue. 2- The decline in profit from associates. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The decline in the net profit and operational profit despite of the increase in revenues and gross profit in this quarter as compared with the previous quarter is due to the following: 1- The increase of revenues was generated from the opening of new entertainment centers, therefore the profitability margin was low due to the preopening expenses and uncompletion of the ramp up period. 2- Generating income from Fixed Asset selling in the second quarter. 3- 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. In addition to the increase in market competition which affected the Average daily room revenue. 4- The decline in profit from associates. |
| 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 |
| Other notes | Total revenues during current period amounted SR 863.8 million compared to SR 914.6 million for same period of last year with decrease of 5.6%. Total revenues during current quarter amounted SR 316.1 million compared to SR 336.9 million for same quarter of last year with decrease of 6.2%. Total revenues during current quarter amounted SR 316.1 million compared to SR 289.4 million for previous quarter of this year with increase of 9.2%. Total comprehensive income for the current period is SR 31.8 million compared to SR 121.5 million for the same period last year with decrease of 73.8%. Total comprehensive income for the current quarter is SR 9 million compared to SR 55.8 million for the same quarter last year with decrease of 83.9%. Total comprehensive income for the current quarter is SR 9 million compared to SR 14.8 million for the previous quarter of this year with decrease of 39.2%. Total Shareholders Equity (Minority interests are not available) amounted SR 717.4 million by end of this period compared with SR 721.3 million for the same period of last year with decrease of 0.54%. |
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