| Reasons of increase (decrease) for quarter compared with same quarter last year |
The decrease in net income of this quarter as compared to the same quarter last year was mainly due to the decrease in the percentages of amounts of dividends declared by some investee companies and the non-declaration by others, in addition to the increase in returns from long term investments in the comparative period as the result of timing difference in dividend declarations; despite the improvement in revenues from hotels, commercial centers, and other income, and the increase in returns from short term investments. |
| Reasons of increase (decrease) for period compared with same period last year |
The decrease in net income for this period was the result of the decrease in the long term investment returns due to the timing difference in declarations & the decrease in the percentage amounts of those declarations, in addition to the capital gain realized in the comparative period from the sale of Bakkah Arac hotel by ARAC company - a subsidiary - and the receipt of compensations by ARAC for the expropriated lands in favor of the expansion of the Prophet's holy mosque. However, the improvement in gross and operating profits for this period compared to the same period last year was due to the increase in operating revenues of the hotels and commercial centers. |
| Reasons of increase (decrease) for quarter compared with previous quarter |
The main reason for the decrease in net income this quarter was the decrease in the gross profit margin in comparison to the third quarter of this year 2016 as a result of decrease in operating revenues. |
| Reclassifications in quarterly financial results |
Some figures in the comparative period (2015) were reclassified for comparability. |
| Other notes |
Gross revenue of the current quarter is SR. 110.07 million compared to SR. 106.12 million for the same quarter last year with an increase of 3.73%. Gross revenue of this period is SR. 523.21 million compared to SR. 476.15 million for the same period last year with an increase of 9.88%. The shareholders equity (Excluding minority interests) for this period is SR.3,864 million compared to SR. 3,851 million for the same period last year with a decrease of 0.32% |
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