SAUDI PUBLIC TRANSPORT CO. ANNOUNCES THE INTERIM CONSOLIDATED 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) | 39,458 | 6,069 | 550.16 | 3,519 | 1,021.28 |
| Gross profit (loss) | 53,853 | 44,582 | 20.8 | 15,698 | 243.06 |
| Operational profit (loss) | 26,896 | 6,786 | 296.35 | -11,819 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 42,977 | 39,374 | 9.15 |
| Gross profit (loss) | 69,551 | 88,913 | -21.78 |
| Operational profit (loss) | 15,077 | 23,598 | -36.11 |
| Earning or loss per share, Riyals | 0.33 | 0.35 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The increase in net income during the current quarter compared with the same quarter of previous year because of: 1.Increase in activity revenue by SAR 10 million and 4% for the period which include revenue of Ramadan and Eid 1438. 2.Decrease in general and administrative expenses by SAR 4.4 million and 21%. 3.Decrease in marketing expenses by SAR 6.4 million and 40%. 4. Increase in the profits of the joint venture company by SAR 6.9 million. 5.Increase in other income SAR 6.7 million. 6.Decrease in Zakat amount SAR 2.3 million. |
| Reasons of increase (decrease) for period compared with same period last year | The increase in net profit during the current period compared with the previous year because of: 1.Decrease in general and administrative expenses by SAR 0.5 million. 2.Decrease in marketing expenses by SAR 10.4 million and 39%. 3.Increase in the profits of the joint venture for SAR 13.5 million. 4.Increase in other revenues for SAR13.6 million. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The increase in net profit during the current quarter compared with the previous quarter because of: 1.Increase in activity revenue for SAR 65 million and 28% including Ramadan season and Eid 1438. 2.Decrease in general and administrative expenses by SAR 3.9 million and 19%. 3.Increase in other income by SAR 0.4 million and 3%. 4.Decrease in Zakat by SAR 0.3 million and 9%. |
| Reclassifications in quarterly financial results | Comparatives have been reclassified due to the adoption of the International Financial Reporting Standards (IFRS). |
| Other notes | Revenues amounted to SAR (294.2) million in current quarter compared with SAR (284.2) million in the same quarter of previous year representing an increase by (3.5%), and compared with SAR (229) million in the previous quarter representing an increase by (28.4%). Revenues amounted to SAR (523.2) million in current period compared with SAR (541.2) million in the same period of previous year representing a decline by (3.3%). Comprehensive Income amounted to SAR (46.3) million in current quarter compared with SAR (13.1) million in the same quarter of previous year representing an increase by (253%), and compared with SAR (2.8) million in the previous quarter representing an increase by (1553%). Comprehensive Income amounted to SAR (50.5) million in current period compared with SAR (36.3) million in the same period of previous year representing an increase by (39%). Shareholders Equity (excluding minority interest) amounted to SAR (1,589) million as of 30 June 2017 compared with SAR (1502) million as of 30 June 2016, representing an increase by (5.8%). EARNINGS PER SHARE WERE CALCULATED FOR THE PREVIOUS PERIOD ON THE BASIS OF 43,424 THOUSAND SAR. |
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