Batic Investments and Logistics Co. announces the interim consolidated 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) | 3,948,632 | 9,288,672 | -57.49 | 12,419,918 | -68.21 |
| Gross profit (loss) | 17,363,918 | 24,186,181 | -28.21 | 25,679,363 | -32.38 |
| Operational profit (loss) | 5,281,177 | 14,205,171 | -62.82 | 10,315,784 | -48.8 |
| Earning or loss per share, Riyals | 0.13 | 0.31 | - | - | - |
| All figures are in Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in net income for the first quarter of 2018 compared to the same quarter of 2017 of 57.49% is mainly due to: - The decrease in gross profit of SAR 6,822,263 due to the increase in operating cost, an increase equivalent to 86% compared to 79% for the same quarter last year is mainly due to an increase in labor cost starting from year 2018. - An increase in general and administrative expenses of SAR 2,101,731 is due to the expenses related to the acquisition transactions and the administration expenses in the subsidiaries. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The decrease in net income for the first quarter of 2018 compared to the previous quarter of 68.20% is mainly due to: -The decrease in gross profit of SAR 8,315,445 due to the increase in operating cost, an increase equivalent to 86% compared to 79% for the previous quarter is mainly due to an increase in labor cost starting from year 2018. -The previous quarter included the gain on property and equipment and other income amounting to SAR 8,694,292 compared to SAR 317,866 for the current quarter. |
| Reclassifications in quarterly financial results | Prior period figures have been re-classified to conform with the presentation in the current period. |
| Other notes | -Revenue for the current quarter amounted to SAR 127,446,585 SAR compared to SAR 116,120,351for the same quarter of last year, an increase equivalent to 9.8 % Compared to the previous quarters total of SAR 122,838,800 the increase was equivalent to 3.75%. -Total Comprehensive Net Income for the quarter amounted to SAR 3,948,632 compared to SAR 9,288,672 for the same quarter of last year a decrease equivalent to 57.49% compared to the previous quarters amount of SAR 12,410,918 the decrease was equivalent to 68.18% -Total shareholders equity (after exclusion of minority rights) as of 31 March 2018 was SAR 356,978,819 compared to SAR 316,351,532 for the same period of last year an increase equivalent to 12.84%. -The profit per share was calculated for the current quarter, and the previous periods based on the updated number of shares that is to reflect the increase in capital from 24m to 30m share through the bonus shares approved on April 29 2018. |
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