Fawaz Abdulaziz Alhokair Co. announces the annual financial results for the period ending on 31-03-2017

14 June 2017 03:26 PM

CENOMI RETAIL 4240 -43.75% 11.34 -8.82

Element	Current year	Previous year	% Change
Net profit (loss)	391.17	615.8	-36.48
Earning or loss per share, Riyals	1.86	2.93	-
Gross profit (loss)	1,528.52	1,765.79	-13.44
Operational profit (loss)	575.31	852.08	-32.48
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	The decrease in Net Income in the last twelve months compared to the same period last year is due to 1- decrease in revenue by 3.4% with high levels of discounts. 2- additional SR 113 M provisions for slow moving inventory. 3- depreciations and amortizations increased by SAR 30M. 4- General, admin and selling expenses together has increase by 28 m as well as the increase of the financial cost SAR 48.5 M. The net income has been positively impacted by the decrease in loss from discontinued operation by SR 91.3 M.
Reclassifications in annual financial results	Certain comparative figures have been reclassified to conform to current period's presentation
Other notes	Sales for the twelve months is SR 6,706 million compared to SR 6,943 million for the same period last year, decrease of 3.4 %. Total Shareholders' Equity attributable to Shareholders as at 31 March 2017 amounted to SAR 2,876.4 million as compared to SAR 2,605.5 million as at 31 March 2016, an increase of 10.4%. The current financial statement is prepared under SOCPA knowing that the company in the process of moving into IFRS.

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