| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | The net profit for the current quarter compared to previous year same quarter has increased by SAR 11.1 million. This increase in net profit is despite a reduction in the revenue by SAR 11.9 million due to price reduction. However, due to the one time cost of living allowance in previous year same quarter not existing in the current year same quarter the operating cost has decreased by SAR 16.8 million. Moreover, the decrease in administration expenses by SAR 8.3 million is due to reduced impairment loss on trade receivable. Further finance cost has increased by SAR 1.6 million due to the impact of IFRS 16 (lease ) effective interest cost on the lease liability. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | The net profit compared to previous quarter has increased by SAR 19.7 million due to the increase in revenue by SAR 38.9 million from increased business volume due to the Ramadan season in current quarter. However, both operating cost and G&A has increased by SAR 17.8 million and SAR 1.8 million respectively due to the seasonal business operation. Moreover there is an increase in the finance income by SAR 857K from murabaha investment whilst the profit share from equity accounted investee has reduced by SAR 554K.. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | The net profit for the current period compared to previous year period has increased by SAR 8.6 million. This increase in net profit is despite a reduction in the revenue by SAR 24.6 million due to price reduction. However, due to the one time cost of living allowance in previous year same period not existing in the current year same period the operating cost has decreased by SAR 21.8 million. Moreover, the decrease in administration expenses by SAR 14.8 million is due to reduced impairment loss on trade receivable. Further finance cost has increased by SAR 3.6 million due to the impact of IFRS 16 (lease ) effective interest cost on the lease liability. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | Certain comparative amounts have been reclassified to conform to the current period’s presentation. |
| Additional Information | Total revenue for the current quarter amounted to SAR 648 million compared to SAR 659.9 million for the same quarter of the previous year which is a decrease of 1.8%. The net profit & the comprehensive income for the current quarter amounts to SAR 123.9 million compared to SAR 112.7 million for the same quarter last year which is an increase of 9.9%. The net profit & comprehensive income for the current quarter is SAR 123.9 million compared to SAR 104.1 million for the previous quarter which is an increase of 19%. The net profit & comprehensive income for the current period amounts to SAR 227.9 million compared to SAR 219.4 million for the same period last year which is an increase of 3.9%. The Company has no minority interest with total shareholders' equity reaching to SAR 2,939.6 million for the current period compared to SAR 2,969.2 million for the same period last year which is a decrease of 1%. |