Aseer Trading, Tourism and Manufacturing Co. announces the interim financial results for the period ending on 31-03-2018 (Three Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 11.7 | 20.7 | -43.48 | -352.8 | - |
| Gross profit (loss) | 139.1 | 168.7 | -17.55 | -193.1 | - |
| Operational profit (loss) | 39.7 | 53.4 | -25.66 | -320.9 | - |
| Earning or loss per share, Riyals | 0.09 | 0.16 | - | - | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in net profit is due to decrease in gross income and income from operations resulting mainly from decrease in gross income from sales in subsidiaries, and decrease in profits from investments. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The generation of net profit is due to increase in gross income and income from operations resulting mainly from generating profits from investments, decrease in sales and distribution expenses and general and administrative expenses, in addition to generation of other income. |
| Other notes | 1- Revenue from sales amounted to SR 449.2 million during the quarter compared to SR 456.8 million for the same quarter of the previous year representing a decrease of 1.7% 2- The comprehensive income attributable to the shareholders of the company amounted to SR 18.2 million, compared to SR 7.3 million for the same quarter of the previous year representing an increase of 149.3%, and compared to a comprehensive loss attributable to the shareholders of the company of SR 355 million for the previous quarter 3- Shareholders equity excluding non-controlling interest, amounted to SR 1,772.1 million for the current period, compared to SR 1,788.5 million as of December 31, 2017 representing a decrease of 0.9%, and SR 2,350.4 million for the same period of the previous year representing a decrease of 24.6% 4- The cumulative losses of the company amounted to SR 226.1 million, representing 17.9% of the Company's share capital amounting to SR 1263.9 million against cumulative losses of SR 203.2 million as of December 31,2017 representing an increase of 11.3%, compared to profits of SR 269.3 million for the same period of the previous year 5- The accumulated losses of the Company during the period increased by SR 34.7 million due to the effect of the adoption of IFRS 9 and IFRS 15 as applied in Saudi Arabia. For further information, please refer to note 2 to the financial statements for the period ended 31/03/2018 |
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