| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
25.24
|
26.16
|
-
|
34.37
|
-
|
| Gross profit (loss) |
227.96
|
201.91
|
12.9
|
244.78
|
-
|
| Operational profit (loss) |
39.63
|
36.82
|
7.63
|
47.09
|
-
|
| Earning or loss per share, Riyals |
0.33
|
0.34
|
-
|
-
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The net income of the company declined due to the increase in selling and distribution cost and general and administrative expenses with slight sales growth by 0.13% for the total company whereas dairy and foods processing sector sales grew by 4.2% while agricultural sector sales declined by 33.9% , and on the other hand the cost of sales decreased due to better sales mix and lower cost of some of the raw materials which contributed to absorb the part of the effect of the increase in energy cost, additionally the net income was negatively affected by the increase in Zakat provisions and financing charges with a reduction in other income and expenses. |
| Reasons of increase (decrease) for quarter compared with previous quarter | Decline in total company sales by 3.3% where Agricultural sector sales declined by 41.5% while dairy and foods processing sector sales grew by 1.6% , and it is worth noting that the company operations and revenue get affected by planting and harvesting seasons and consumption changes which affect the financial results during the year, the the gross margin of the current quarter declined compared to the previous quarter which negatively affected the net income while the reduction in selling and distribution cost positively affected the net income in contrast to the general and administrative expenses that increased compared to the previous quarter , Zakat provision positively affected the net income while other income and expenses negatively affeted the net income compared to the previous quarter |
| Reclassifications in quarterly financial results | Certain prior period figures have been re-classified to conform with the presentation in the current period |
| Other notes | The reported earnings per share has been recalculated for the similar period of last year on the basis of 77 million shares reflecting the bonus shares that has been approved by Extra ordinary general assembly on 26th Jumada AlAwal 1436 corresponding to 17th March 2015 |
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.