Taiba Holding Co. announces the interim financial results for the period ending on 31-03-2017 (Three Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 56.09 | 54.1 | 3.68 | 61.23 | -8.39 |
| Gross profit (loss) | 63.19 | 69.94 | -9.65 | 60.81 | 3.91 |
| Operational profit (loss) | 48.49 | 52.71 | -8.01 | 48.99 | -1.02 |
| Earning or loss per share, Riyals | 0.37 | 0.36 | - | - | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The increae in net income, this quarter, was due to settlement of doubtful amounts. The decrease in gross & operating income was due to the decline in revenues from hotels & residential centers. |
| Reasons of increase (decrease) for quarter compared with previous quarter | - The decrease in net income, this quarter, was due to the decrease in the operating revenues of the hotels & residential centers, in addition to the decline in income from long & short term investments. |
| Reclassifications in quarterly financial results | Some of the comparative figures were reclassified for comparability. |
| Other notes | Gross revenue for this quarter is SAR 106.19 million compared to SAR 118.12 million for the comparative quarter last year with a decrease of 10%. Total comprehensive income for the current quarter is 25.48 million compared to (116.9) million in the comparative quarter, with an increase of 122%, and compared to 225.5 million in the last quarter, with a decrease of 88.7%. Shareholders' equity for this period (excluding non-controlling interests) is SAR 3.83 billion compared to SAR 3.60 billion for the comparative period last year, with an increase of 6.4%. The Company has adopted IFRS starting from 1/1/2017 and made several adjustments in the consolidated financial statements for this period and for the comparative period in compliance with IFRS requirements adopted in KSA. |
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