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Taiba Holding Co. announces the annual financial results for the period ending on 31-12-2016

TAIBA 4090 54.01% 42.20 14.80
Element Current year Previous year % Change
Net profit (loss) 250.1 436.92 -42.76
Earning or loss per share, Riyals 1.66 2.91 -
Gross profit (loss) 290.39 280.34 3.58
Operational profit (loss) 240.64 234.43 2.65
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of annual financial results The decrease in net income, in the current period, was mainly due to the decrease in returns from long-term investments, and the realization of capital gain in the comparative period from the sale of Bakkah Arac hotel; despite the increase in operating income resulting from the increase in revenues from hotels, residential & commercial centers, and toristic & entertainment activities, in addition to the improvement in returns from short-term investments, and reduction in financiang cost.
Reclassifications in annual financial results Some figures in the comparative period (2015) were reclassified for comparability.
Other notes 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.3,866 million compared to SR. 3,851 million for the same period last year with a decrease of 0.39%

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