| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
21.71
|
21.61
|
0.46
|
24.18
|
-
|
| Gross profit (loss) |
16.66
|
17.6
|
-
|
19.77
|
-
|
| Operational profit (loss) |
23.58
|
24.88
|
-
|
26.65
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
94.1
|
86.81
|
8.4 |
| Gross profit (loss) |
75.08
|
70.67
|
6.24 |
| Operational profit (loss) |
103.42
|
97.05
|
6.56 |
| Earning or loss per share, Riyals |
1.34
|
1.24
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | Net profit increased due to (i) the increase in rent revenues (ii) the increase in income from investments in associates and (iii) decrease in zakat provision. However, gross profit decreased due to the increase of cost of rent revenues, especially leasing fees, electricity and water expense. Operating profit decreased due to the increase in general expenses resulting from the provisions created for doubtful debts. |
| Reasons of increase (decrease) for period compared with same period last year | Net profit increased due to the (i) increase in rent revenues (which led to increased gross profit) (ii)increase in income from investments in associates, (iii) decrease in selling and marketing expenses and (iv) decrease in financing cost. Collectively these reasons contributed to the increase in net profit despite the increase in general expenses |
| Reasons of increase (decrease) for quarter compared with previous quarter | Increase in the cost of rent revenues especially leasing fees, electricity and water expenses. And Decrease in rent revenues of certain leased units. |
| Other notes | Rent revenues for the current year increased by 23.5% to SAR 126.73 million compared to SAR 102.61 million for the previous year. and During current year, three strip malls in Riyadh started operation. |
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