All figures are in (Thousands) Saudi Arabia, Riyals
Element
EXPLAINATION
Reasons of annual financial results
Increase in revenue of SAR 24 million, mainly from Ports segment, was off-set by increases in energy prices, provision for additional warehouse rentals, and higher repair maintenance costs decreasing the gross profit marginally. Operating Profit decreased mainly due to increase in payroll related expenses. Despite the provision of SAR 4 million for one of the associates, the overall performance of equity accounted associates has improved as compared to last year. Other income has increased mainly due to reversal of a provision, which is no longer required based and compensation of SAR 2.5 million received against claims from prior years.
Reclassifications in annual financial results
Certain comparative figures have been reclassified to conform to the presentation in the current period.
Other notes
Total revenue for the year December 31, 2016 amounted to SAR 640.3 million, compared with SAR 616.1 million for the same period last year, an increase of 3.9%. Total shareholders' equity (after minority interests) as at December 31, 2016 amounted to SAR 1,024 million, compared to SAR 972 million riyals last year, an increase of 5.3%.
Comments