| Reasons of increase (decrease) for quarter compared with same quarter last year |
The main reason in decline in net income of 39.4% is due to the following - The realized losses in securities investments amounted to SR 1,965,512 during the current quarter - The other income for the current quarter is SR 44,062 compared with SR 5,663,005 for the same quarter last year - The return on securities investments for the current quarter is SR 170,684 compared with SR 1,512,098 for the same quarter last year |
| Reasons of increase (decrease) for quarter compared with previous quarter |
Reasons of increase (decrease) for quarter compared with previous quarter - The attained net income for the current quarter compared with the previous quarter mainly due to the following - The increase in the operating revenue amounted to SR 6,095,614 and the increase of gross profit due to the decrease of operational cost of 35.8% - Decrease in general and administration expenses amounted to SR 10,178,863 due to include the previous quarter to infrequent expenses that related to the restructuring of management - The recognition during the previous quarter of non temporary losses in securities & funds investments amounted to SR 11,069,033 |
| Reclassifications in quarterly financial results |
Items, elements and notes of the comparatives Consolidated Interim Financial Statements have been redisplayed, regrouped and reclassified to meet with the applied accounting policies for the current period which have been prepared according to the International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia. For more information, please see the note 4 in the Interim Consolidated Financial Statements for the period ended in 31 March 2017 |
| Other notes |
Revenue for the quarter ended March 31st 2017, amounted to SR 116,120,351 compared to SR 112,823,168 for the same quarter of the last year, Increase equivalent to 2.9% - Total Comprehensive Income for the first quarter of the current year amounted to SR 9,288,672 compared to SR12,637,341 for the same quarter of last year with an decrease of 26.5% - Total shareholders' equity (after exclusion of minority rights) as at March 31st 2017, SR 313,504,865 compared to shareholders' equity as at March 31st 2016, SR 287,646,498 , increase equivalent to 9% and compared with SR 1,780,856 for the previous quarter with an increase of 421.6% The profit per share has been counted based on 18 million shares for the year 2015 and 24 million shares for the year 2016 due to the increase in capital during the year 2016 |
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