| Reasons of increase (decrease) for quarter compared with same quarter last year |
The increase in losses for the current quarter by 61% compared to the same quarter last year , is due to the drop in the agricultural division sales by almost 62% as a result of decrease in quantities produced during the current quarter due to the delay of the production season for weather conditions, drop in food division sales by 60% as a result of restructuring Food division and decrease in rental and storage revenues and other revenues, despite the decrease in general and administrative expenses, decrease selling and distribution expenses and decrease financing expenses compared to the same quarter last year . |
| Reasons of increase (decrease) for quarter compared with previous quarter |
The decrease in losses for the current quarter by 20% compared to the previous quarter of last year (Q4 2016) despite the decrease in sales is due to no decrease in inventory value during the first quarter 2017 compared to fourth quarter 2016 and drop in general and administrative expenses despite drop in other revenues and financing cost and increase in Zakat for the current quarter compared to previous quarter of 2016. |
| Reclassifications in quarterly financial results |
The interim condensed consolidated statements have been restated, categorized and tabulated in accordance with accounting policies applied in the presentation, classification and classification of the condensed consolidated interim financial statements for the current period which have been prepared in accordance with the International Financial Reporting Standards adopted in Saudi Arabia , and other accredited by the Saudi Organization for Certified Public Accountants . |
| Other notes |
Total income for the current quarter amounted to SAR 4.7 million compared to SAR 9.8 million for the same quarter of the previous year and a decrease of 52% compared to SAR 11.7 million from the previous quarter of last year 2016, a decrease of approximately 60%. Total shareholders' equity (non-minority interest) as at 31 March 2017 amounted to SAR 158 million compared to SAR 171 million as at 1 January 2016, a decrease of 7.6% compared to SAR 163 at 31 December 2016 and a decrease of 3.2%. Total comprehensive loss for the first quarter of the year SAR 4.6 million compared to a loss of SAR 2.8 million for the same quarter last year, an increase of 61% compared to SAR 5.7 million from the previous quarter of last year, a decrease of 20% . The accumulated losses as at 31 March 2017 amounted to SAR 37.3 million equivalent to19.05% of the capital . |
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