Aldrees Petroleum and Transport Services Co. announces the annual financial results for the period ending on 31-12-2017 (Twelve Months)

18 January 2018 09:33 AM

ALDREES 4200 44.10% 166.00 50.80

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	12.4	14.8	-16.22	18.2	-31.87
Gross profit (loss)	44.9	41.9	7.16	46.5	-3.44
Operational profit (loss)	17.6	16	10	23.1	-23.81
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	63.4	89.2	-28.92
Gross profit (loss)	182.1	206.2	-11.69
Operational profit (loss)	80.1	102.6	-21.93
Earning or loss per share, Riyals	1.27	1.78	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Reasons of decrease net profit for quarter compared with same quarter last year due to Increase of general and Administrative, financial expenses, and Zakat expenses ,decrease of other revenue of joint venture, decrease of marketing expenses
Reasons of increase (decrease) for period compared with same period last year	Reasons of decrease net profit for quarter compared with same quarter last year due to decrease of Petrol and Transport Divisions sales, Increase of general and Administrative and financial expenses, decrease of other revenues of joint venture, decrease of marketing and Zakat expenses.
Reasons of increase (decrease) for quarter compared with previous quarter	Reasons of decrease net profit for quarter compared with same quarter last year due to decrease of Petrol and Transport Divisions sales decrease of marketing and general and Administrative expenses, increase of financial expenses and decrease other revenues and Zakat expenses
Other notes	Sales during the current quarter amounted to SAR 885.5 Million compared to SAR 869.3 Million for the same quarter last year, a increase of 1.86%. Total net comprehensive income during the current quarter SAR 12.4 Million compared to SAR 14.8 Million for the same quarter last year, an decrease of 16.22% compared to SAR 18.2 Million for the previous quarter with an decrease of 31.87%. Sales during the current period amounted to SAR 3,409.6 Million riyals compared to SAR 3,461.3 Million riyals for the same period of the previous year, a decrease of 1.49%. The total net comprehensive income during the current period SAR 63.4 Million riyals compared to SAR 89.2 Million riyals for the same period of the previous year, with a decrease of 28.92%. Total shareholders' equity (no minority interest) as of December 31, 2017, is SR 655.8 Million compared to SAR 633.7 million as of December 31, 2016, an increase of 3.49%. Earnings per share were adjusted in line with the increase in the company's capital from 40 Million shares to 50 Million shares after the approval of the Extraordinary General Assembly on March 12, 2017. The reason for the adjustment for net profit, gross profit, operating profit for the same quarter last year and the net profit, gross profit and operating profit for the same period last year is due to the application of IAS 19 (Employee Benefits)

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