| Reasons of annual financial results |
The net profit compared to last year same period has declined by SAR 184.3 million because of a decrease in revenue by SAR 141.1 million due to changes/revisions in certain service charges and an increase in general and administrative expense by SAR 133.6 million (mainly due to increase in provisions for the period). There is a decrease in operating cost by SAR 89.2 million due to reduction/curtailment of operating of expenses and also release of excess accruals based on settlement . Further, Finance income increased by SAR 1.7 million for the period. |
| Reclassifications in annual financial results |
Items, elements and notes of the comparatives in the financial statements have been redisplayed, regrouped and reclassified to meet with the applied accounting policies for the current period which have been prepared according to the International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia. For more information, please see the note 29 (Explanation of Transition to IFRS) in the Financial Statements for the year ended 31 December 2017. |
| Other notes |
The revenue for the current period amounted to SAR 2,585.5 million compared to SAR 2,726.7 million for the last year same period which is a decrease of 5.18%. The net profit for the current period amounts to SAR 501.5 million compared to SAR 685.8 million for the same period last year which is a decrease of 26.9%. The Company has no minority interest with total shareholders' equity reaching to SAR 2,872.1 million for the current period compared to 2,976.7 million for the same period last year which is a decrease of 3.51%.The Total comprehensive income for the period is SAR 506.3 million compared to the same period last year SAR 686 million representing a decrease of 26.2%. |
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