| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
94.49
|
89.23
|
5.89
|
36.64
|
157.89
|
| Gross profit (loss) |
372.55
|
316.73
|
17.62
|
283.07
|
31.61
|
| Operational profit (loss) |
102.31
|
85.27
|
19.98
|
29.82
|
243.09
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
228.44
|
230.88
|
- |
| Gross profit (loss) |
1,271.66
|
998.47
|
27.36 |
| Operational profit (loss) |
233.77
|
209.77
|
11.44 |
| Earning or loss per share, Riyals |
5.08
|
5.13
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | 1. Consolidated net income increased by 5.89% due to growth in sales of existing branches and the expansion in opening new branches by 24.13%, despite the increase in operating and financing expenses, in addition to taking income tax provision on the profits of shareholders subject to tax. 2. Gross profit increased by 17.62% due to growth in sales of existing branches and the expansion in opening new branches. 3. Operating income increased by 19.98% due to growth in sales of existing branches and the expansion in opening new branches. |
| Reasons of increase (decrease) for period compared with same period last year | 1. Consolidated net income declined by 1.06% due to increase in operating and financing expenses, in addition, the results of the current period included a fire incident loss occurred during 2015 at one of the manufacturing facilities of a subsidiary, the financial impact of which amounting SR 8.6 million, in addition to taking income tax provision on the profits of shareholders subject to tax despite the growth in sales and improvement in gross profit. 2. Gross profit increased by 27.36% due to growth in sales of existing branches and the expansion in opening new branches by 18.82% in addition to the improvement in gross profit ratio. 3. Operating income increased by 11.44% due to improvement in gross profit and rent revenues despite of increase in S&D, G&A expenses, particularly personnel, promotional and increase in transportation, fuel and electricity cost. |
| Reasons of increase (decrease) for quarter compared with previous quarter | 1. Consolidated net income increased by 157.89% compared to the previous quarter due to the improvement in gross profit margin and increase in other operating income particularly the annual targets incentives calculated and recognized at the end of the fiscal year, in addition to increase in rent revenues, despite of increase in operating expenses, zakat and income tax provisions. 2. Gross profit increased by 31.61% due to growth in sales against previous quarter by 21.79%. 3. Operating income increased by 243.09% due to growth in sales against previous quarter by 21.79%. |
| Reclassifications in quarterly financial results | Some comparative figures have been reclassified to be consistent with the presentation of the current period. |
| Other notes | 1. Total sales of the current quarter is SR 1,928.2 million against SR 1,553.4 million for the similar quarter last year with growth of 24.13%. 2. Total sales for the period is SR 7,171.7 million against SR 6,035.8 million for the similar period last year with a growth of 18.82%. 3. Total shareholders' equity (net of non-controlling interest) as at the end of the current period is SR 1,236.7 million against SR 1,104.6 million at the same date last year with a growth of 12%. 4. Loss of translating the financial statements of the wholly owned subsidiary (Othaim Markets Company Egypt) amounting SR 4 million for the fiscal year 2016 as a result of the Egyptian government resolution to float foreign currency exchange rates against the Egyptian pound on 03/11/2016. The loss was presented within (Shareholders Equity) in the consolidated balance sheet at 31/12/2016. |
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