| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
74.11
|
71.21
|
4.07
|
67.26
|
10.18
|
| Gross profit (loss) |
375.18
|
356.38
|
5.28
|
341.54
|
9.85
|
| Operational profit (loss) |
67.2
|
63.03
|
6.62
|
64.12
|
4.8
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
141.37
|
131.36
|
7.62 |
| Gross profit (loss) |
716.72
|
676.07
|
6.01 |
| Operational profit (loss) |
131.33
|
127.31
|
3.16 |
| Earning or loss per share, Riyals |
1.57
|
1.46
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | Consolidated net profit increased by 4.07% compared with the same quarter of the previous year mainly due to the following reasons: - Sales growth by 4.47% due to expansion in new branches. - Increase in the Company profits from the associates. - Decrease in financing expenses due to the early settlement of long-term loans. The results of the corresponding quarter includes the sum of SR 6.6 income from discontinued operations, net of zakat, realized from Hail Mall before its disposal. |
| Reasons of increase (decrease) for period compared with same period last year | Consolidated net profit increased by 7.62% compared with the corresponding period last year mainly due to the following reasons: - Sales growth by 5.19% due to expansion in new branches. - Decrease in financing expenses due to the early settlement of long-term loans. The results of the corresponding period include a fire incident loss occurred at one of the branches amounting SR 3.5 million reimbursed in the fourth quarter of 2017, in addition to Income from discontinued operations, with the sum of SR 6.8 net of zakat realized from Hail Mall before its disposal. |
| Reasons of increase (decrease) for quarter compared with previous quarter | Consolidated net income for the second quarter increased by 10.18% compared with the first quarter of the current year mainly due to: - Sales growth by 12.47% as a result of the occurrence of Ramadan season in the second quarter. - Increase in real estate revenues as a result of adding new leasable spaces. - Increase in the Company profits from the associates. |
| External auditor's report containing reservation | Review report: Unmodified Conclusion |
| Reclassifications in quarterly financial results | Some comparative figures have been restated to be consistent with the presentation of the current period in accordance with the International Financial Reporting Standards (IFRS). Sales and cost of sales for the current and comparative periods have been restated in accordance with IFRS No. 15, by reducing both items against suppliers subsidies granted to customers on points of sale and vouchers sales. Sold vouchers were no longer recognized as sales. Instead, the related commission is being recognized and presented in a separate line. However, there are no financial impact of these restatements on net profit for the current and comparative figures. |
| Other notes | 1. Total sales for the current quarter is SR 2,022.47 million against SR 1,935.88 million for the same quarter last year with a growth of 4.47% and against SR 1,798.26 million for the previous quarter with a growth rate of 12.47%. 2. Total sales for the current period is SR 3,820.73 million against SR 3,632.10 million for the same period last year with a growth rate of 5.19%. 3. Total comprehensive income for the current quarter is SR 72.70 million against SR 70.13 million for the same quarter last year with an increase of 3.66% and against SR 66.96 million for the previous quarter with an increase rate of 8.57%. 4.Total comprehensive income for the current period is SR 139.66 million against SR 129.73 million for the same period last year with an increase rate of 7.65%. 5. Total shareholders' equity -net of non-controlling interest- as at the end of the current period is SR 1,499.51 million against SR 1,273.08 million at the same date last year with a growth of 17.79%. 6. On January 1st 2018 the Company has adopted IFRS 15 with no material impact on the financial statements. 7. Earnings per share for the current and comparative periods were restated to reflect the increase in the Company capital from 45 million shares to 90 million shares through capitalization pursuant to the resolution of the extraordinary shareholders general assembly on April 23, 2018. |
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