| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
129,088
|
114,523
|
12.72
|
-
|
-
|
| Gross profit (loss) |
354,791
|
274,470
|
29.26
|
45,525
|
679.33
|
| Operational profit (loss) |
257,923
|
229,116
|
12.57
|
80,645
|
219.83
|
| Earning or loss per share, Riyals |
0.03
|
0.03
|
-
|
-
|
-
|
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | Increase in income from and gain on investments despite of decrease on hotels operating income, as well as increase in general and administrative expenses and finance charges. |
| Reasons of increase (decrease) for quarter compared with previous quarter | Increase in income from and gain on investments despite of decrease on hotels operating income associate with decrease in general and administrative expenses and finance charges. |
| Reclassifications in quarterly financial results | Comparative figures of the same period last year were reclassified to be consistent with current figures |
| Other notes | The gross revenue for current quarter is amounting to 661.9 million compare to 640.4 million for the same quarter last year represent an increased by 3.4%. The shareholders equity for current period after deducted the minority interest is amounting to 28,629 million compare to 26,553 million for the same period last year represent an increase of 7.8 %. The comprehensive income for current quarter is amounting to SAR 395 million compare to (SAR1,405) million loss for the same quarter last year On 1 January 2017 KHC adopted International Financial Reporting Standards (IFRS) and accordingly, adjustments were made to the consolidated financial statements in respect of the recognition, measurement, presentation and disclosure in line with the requirements of IFRS as adopted by SOCPA. These changes were mainly related to early adoption of IFRS 9, as a result of which KHC reclassified part of its investment portfolio from fair value through Other Comprehensive Income (OCI) to fair value through profit or loss. The impact of adopting IFRS on the opening retained earnings as at 1 January 2016 was an increase of SAR 794 million to SAR 2,328 million. As a result the IFRS transition adjustments, the comparable profit for the year ended 31 December 2016 decreased from SAR 509 million as per SOCPA to a loss of SAR 350 million under IFRS. Retained earnings for the year ended December 2016 under IFRS are SAR 1,271 million compared to SAR 1,336 million in the SOCPA audited financial statements for the same period. For more information please refer to note 6 and 7 in the Interim Condensed Consolidated Financial Statements for the period ended 31st of March 2017. |
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