| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
0.51
|
0.14
|
264.29
|
0.48
|
6.25
|
| Gross profit (loss) |
6.01
|
4.45
|
35.06
|
6.92
|
-
|
| Operational profit (loss) |
1.53
|
1.25
|
22.4
|
0.92
|
66.3
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
4.17
|
8.58
|
- |
| Gross profit (loss) |
20.47
|
23.24
|
- |
| Operational profit (loss) |
4.53
|
10.54
|
- |
| Earning or loss per share, Riyals |
0.36
|
0.75
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The net profit for this quarter is higher compared to same quarter of last year due to increase in sales in addition decrease in zakat provision however the increased selling & marketing expenses as well as decrease in the other income. Moreover increase in G&A expenses and banking charges resulted from the new subsidiary liabilities. |
| Reasons of increase (decrease) for period compared with same period last year | The net profit for the nine months of 2017 is lower compared to the same period of last year due to decrease in sales in addition to increase in G&A expenses resulted from reclassification of some items of income statement coping up with the IFRS as well as the allocation of the new subsidiary expenses starting from the 2nd quarter of 2017, in spite of increased other income. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The reason lies behind the higher net profit for this quarter compared to the last quarter of the same year is decrease in G&A expenses as a result of reclassification of some items of income statement coping up with the IFRS in spite of declined sales and other income. |
| Reclassifications in quarterly financial results | Certain Comparative figures have been restated to be consistent with the presentation of the current period in accordance with IFRS adopted in the Kingdom of Saudi Arabia along with the other standards and releases adopted by the (SOCPA). |
| Other notes | - The total revenue of current quarter is SR 34.59 million whereas the total revenue of the same quarter of last year is SR 30.64 million which is an increase of 12.89%, and against SR 40.43 million for the last quarter which a decrease of 14.44%. - The total revenue of current period is SR 116.21 million compared to SR 120.16 million for the same period of last year which a decrease of 3.29%. - Total comprehensive income for the current quarter amounted to SR 0.68 million, an increase of 385.71% compared to the same quarter of last year which was SR 0.14 million, and an increase of 17.24% compared to the last quarter which was SR 0.58 million. - The total comprehensive income for current period is SR 4.44 million compared to SR 8.58 million for the same period of last year which a decrease of 48.25%. - Total Shareholders Equity (excluding Non-controlling interests) as of 30 Sep. 2017 is SR 182.47 million, whereas it was SR 181.13 million for same period of last year (with no minority rights) with an increase of 0.74 %, and against 183.65 million as of 31 Dec. 2016, (with no minority rights) with a decrease of 0.67%. - FIPCO has applied the IFRS effective from 1 January 2017. Accordingly, some changes have been made in the measurement, recognition, presentation and disclosure method for the current and comparative periods in accordance with these standards, which are adopted by the concerned authorities in Saudi Arabia. - The above-mentioned subsidiary is meant by FBC Industrial Company that has been referred in FIPCO announcement of material developments published on TADAWUL in Oct. 17, 2017. |
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