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25 April 11:59 PM

Hail Cement Co. announces the interim financial results for the period ending on 30-06-2017 (Six Months)

HCC 3001 -1.40% 11.28 -0.16
Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 2,658,887 26,836,862 -90.09 8,276,272 -67.87
Gross profit (loss) 11,108,926 34,503,378 -67.8 17,038,235 -34.8
Operational profit (loss) 3,870,423 26,497,389 -85.39 10,331,195 -62.54
All figures are in Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 10,935,159 59,134,624 -81.51
Gross profit (loss) 28,147,161 80,916,753 -65.21
Operational profit (loss) 14,201,618 65,814,049 -78.42
Earning or loss per share, Riyals 0.11 0.6 -
All figures are in Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The total revenue is less compared to same quarter last year because of less demand, tough competition and declining prices.
Reasons of increase (decrease) for period compared with same period last year The total revenue is less compared to same period last year because of less demand, tough competition and declining prices.
Reasons of increase (decrease) for quarter compared with previous quarter The total revenue is less compared to previous quarter because of less demand, Ramadan and Eid holidays, tough competition and declining prices.
Reclassifications in quarterly financial results The Company has prepared these interim condensed financial statements as per International Financial Reporting Standards (IFRS) in accordance with IAS 34 and IAS 1, starting 1 January 2017 to comply with CMA directives. However, in the preceding year the Company prepared its audited financial statements as per IFRS for internal management use and did not publish. The difference in comparative figures of previous quarter, same quarter last year and same period last year in these interim condensed financial statements are as per IFRS.
Other notes 1- Total revenue during the current quarter is SR 32,164,326 whereas the total revenue during the same quarter last year is SR 75,093,227 a decrease of 57.17% and SR 44,434,842 during previous quarter a decrease of 27.61%. 2- Total revenue during the current period is 76,599,168 whereas the total revenue during the same period last year is 164,547,349 a decrease of 53.45%. 3- Total comprehensive income, during the current quarter is SR 2,658,887 whereas the total comprehensive income during same quarter last year was SR 26,836,862 a decrease of 90.10% and SR 8,272,272 during the previous quarter a decrease of 67.86%.4-Total comprehensive income during the current period is SR 10,935,228 whereas the total comprehensive income during the same period last year is SR 59,134,624 a decrease of 81.51%.
5- Earnings per share during the current period is SR 0.11 whereas the earnings per share in same period last year SR 0.60.
6- Shareholders Equity (with no minority interests) at the end of current period is SR 1,023,508,447 whereas it was SR 1,066,103,580 at the end of same period last year, a decrease of 4.16%.

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