| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
122.28
|
195.82
|
-
|
155.12
|
-
|
| Gross profit (loss) |
246.56
|
252.28
|
-
|
222.66
|
10.73
|
| Operational profit (loss) |
120.25
|
192.66
|
-
|
149.17
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
277.4
|
387.97
|
- |
| Gross profit (loss) |
469.23
|
509.28
|
- |
| Operational profit (loss) |
269.42
|
388.41
|
- |
| Earning or loss per share, Riyals |
1.48
|
2.06
|
- |
| 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 compared to last year same quarter has declined by SAR 73.5 million because of the revenue reduction by SAR 33.2 million due to changes/revision in service charges and increase in general and administrative expense by SAR 66.7 million (mainly due to increase in the provisions during the current quarter) with a decrease in operating costs by SAR 27.5 million due to release of excess accruals based on settlement and also reduction in some operational expenses. |
| Reasons of increase (decrease) for period compared with same period last year | The net profit compared to last year same period has declined by SAR 110.6 million because of a decrease in revenue by SAR 75.2 million due to changes/revision in service charges and an increase in general and administrative expense by SAR 78.9 million (mainly due to increase in provisions for the period). There is a decrease in operating cost by SAR 35.1 million due to release of excess accruals based on settlement and also reduction in some operational expenses. Further, finance income increased by SAR 6.9 million for the period. |
| Reasons of increase (decrease) for quarter compared with previous quarter | Despite a net increase in revenue by SAR 15.5 million, the net profit compared to previous quarter has declined by SAR 32.8 million, due to General and administrative expenses increased by SAR 52.8 million (mainly due to increase in provisions in the current quarter). Operating costs decreased by SAR 8.4 million due to release of excess accruals based on settlement. Finance income also decreased by SAR 2.7 million. |
| Reclassifications in quarterly financial results | Items, elements and notes of the comparatives Condensed Interim Financial Statements have been redisplayed, regrouped and reclassified to meet with the applied accounting policies for the current period which have been prepared according to the International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia. For more information, please see the note 14 (Explanation of Transition to IFRS standards adoption) in the Interim Condensed Financial Statements for the period ended in 30 June 2017. |
| Other notes | Total revenue for the current quarter amounted to SAR 659.3 million compared to SAR 692.5 million for the same quarter of the previous year which is a decrease of 4.8%. The revenue for the current period amounted to SAR 1,303 million compared to SAR 1,378.2 million for the last year same period which is a decrease of 5.45%. The comprehensive income for the current quarter is SAR 122.3 million compared to SAR 195.8 million for the same quarter last year which is a decline of 37.6% and compared to previous quarter comprehensive income of SAR 155.1 million there is a decrease of 21.1%. The comprehensive income for the current period amounts to SAR 277.4 million compared to SAR 387.9 million for the same period last year which is a decrease of 28.5%. The Company has no minority interest with total shareholders' equity reaching to SAR 2,887 million for the current period compared to SAR 2,801 million for the same period of the previous year which is a increase of 3%. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.