Saudi Public Transport Co. announces the interim consolidated financial results for the period ending on 30-09-2017 (Nine Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 63,312 | 88,209 | -28.23 | 39,458 | 60.45 |
| Gross profit (loss) | 108,586 | 125,184 | -13.26 | 53,853 | 101.63 |
| Operational profit (loss) | 78,082 | 92,914 | -15.96 | 26,896 | 190.31 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 106,299 | 127,583 | -16.68 |
| Gross profit (loss) | 178,137 | 214,097 | -16.8 |
| Operational profit (loss) | 93,159 | 115,759 | -19.52 |
| Earning or loss per share, Riyals | 0.83 | 1.05 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in net income during the current quarter compared with the same quarter of previous year because of: 1. Increase in operating cost during the current quarter by 11% compared with the same quarter of the previous year. 2. Achieving losses in joint venture investment during the current quarter higher than the same quarter of the previous year increased by 205%. 3. Increase in financing cost during the quarter by 45% compared with the same quarter of the previous year as a result of new contracts for financing buses. 4. Decrease in other income during the current quarter by 30% compared with the same quarter of the previous year. |
| Reasons of increase (decrease) for period compared with same period last year | The decrease in net income during the current period compared with the same period of previous year because of: 1. Decrease in operating revenues by 1% during the current period compared with the same period of the previous year. 2. Increase in operating cost during the current period by 4% compared with the same period of the previous year. 3. Increase in financing cost during the current period by 93% compared with the same period of the previous year as a result of new contracts for financing buses. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The increase in net income during the current quarter compared with the previous quarter because of: 1. Increase in operating revenues during the current quarter by 31% compared with the previous quarter, where the current quarter revenues were affected by income Hajj season in 1438. 2. Decrease in marketing expenses during the current quarter by 5% compared with the previous quarter. |
| 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 (385.5) million in current quarter compared with SAR (375.6) million in the same quarter of previous year representing an increase by (3%), and compared with SAR (294.2) million in the previous quarter representing an increase by (31%). Revenues amounted to SAR (908.7) million in current period compared with SAR (916.8.2) million in the same period of previous year representing a decline by (1%). Comprehensive Income amounted to SAR (60.9) million in current quarter compared with SAR (74.9) million in the same quarter of previous year representing an decrease by (19%), and compared with SAR (46.3) million in the previous quarter representing an increase by (31%). Comprehensive Income amounted to SAR (111.4) million in current period compared with SAR (111.2) million in the same period of previous year representing an increase by (.0.2%). Shareholders Equity (excluding minority interest) amounted to SAR (1.649) million as of 30 September 2017 compared with SAR (1.577) million as of 30 September 2016, representing an increase by (4.6%). Earnings per share were calculated for the same period based on the similar period profits SAR 130.67 million. |
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