Al Abdullatif Industrial Investment Co. announces the interim financial results for the period ending on 30-06-2017 (Six Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 13.72 | 12.64 | 8.54 | 12.36 | 11 |
| Gross profit (loss) | 27.21 | 26.74 | 1.76 | 26.37 | 3.19 |
| Operational profit (loss) | 16.95 | 16.25 | 4.31 | 16.5 | 2.73 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 26.08 | 27.4 | -4.82 |
| Gross profit (loss) | 53.58 | 66.4 | -19.31 |
| Operational profit (loss) | 33.45 | 36.56 | -8.51 |
| Earning or loss per share, Riyals | 0.32 | 0.34 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The reasons for the increase in gross profit, operating profit, net profit and comprehensive profit during the current quarter compared to the same quarter are as follows: 1 - Decrease in cost of sales attributable to sales. 2 - Decrease in administrative and general expenses. 3 - Decrease in financing expenses. 4 - Increase in Other revenues. |
| Reasons of increase (decrease) for period compared with same period last year | The reasons for the decrease in gross profit, operating profit, net profit and comprehensive profit during the first six months of 2017 compared to the same period in 2016 are due to: 1 - Decrease in sales. 2 - Increase in selling expenses. 3 - Non-realized profits on sale of assets. 4 - Increase in Zakat provision. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The reasons for the increase in gross profit, operating profit, net profit and comprehensive profit during the current quarter compared to the previous quarter of this year are as follows: 1. Increase in sales. 2. Decrease in administrative and general expenses. 3. Decrease in financing expenses. 4. Decrease in Zakat provision. |
| Reclassifications in quarterly financial results | The Company has adopted the International Financial Reporting Standards effective 1 January 2017. Accordingly, some changes in the Company's financial statements have been made in a number of items in the measurement, recognition, presentation and disclosure method for the current and comparative period in accordance with the accounting policies adopted by the Company in accordance with accounting standards International Financial Reporting Standards approved by the Saudi Organization for Certified Public Accountants. |
| Other notes | 1) Net sales during the current quarter reached SR 182.25 million compared to SR 214.61 million for the same quarter of 2016, a decrease of (15.08%). 2) Net sales during the current period reached SR 348.86 million compared to SR 443.71 million for the same period of 2016, a decrease of( 21.38%). 3) Net comprehensive income for current quarter reached SR 13.59 million compared to SR 12.48 million for the same quarter of 2016, an increase of ( 8.89%). Compeered to SR 12.18 Million for the previous quarter, an increase of (11.58%). 4) Total shareholders' equity during the current period reached SR 1,209.08 million Compared to SR 1,220.38 million riyals for the same period of the previous year 2016 with a decrease (0.93%). 5) Total comprehensive income amounted to SR 25.77 million compared to SR 27.05 million for the same period last year, a decrease of (4.73%). 6) There are no minority rights in financial instruments. |
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