| Reasons of increase (decrease) for quarter compared with same quarter last year |
The decrease of net profit of current quarter in comparison with equivalent quarter last year is attributed to decrease of investment revenue by 6.22 million Saudi Riyals and decrease of other revenue by 835 thousand Saudi Riyals and increase of sales and marketing expenses by 4.5 million Saudi Riyals and increase of overhead by 485 Saudi Riyals although there is increase in total income by 3.54 million due to decrease of revenue cost and decrease of Zakat by 2.5 million Saudi Riyals |
| Reasons of increase (decrease) for period compared with same period last year |
The decrease of net profit of current period in comparison with equivalent period last year is attributed to decrease of investment revenue by 17.2 million Saudi Riyals and decrease of other revenue asset sale profit 10.2 million Saudi Riyals and increase of sales and marketing costs by 5.6 million Saudi Riyals and increase of overhead by 679 thousand Saudi Riyals although the decrease of Zakat by 1.24 million Saudi Riyals |
| Reasons of increase (decrease) for quarter compared with previous quarter |
The decrease of net profit of current quarter in comparison with last quarter of current year is attributed to decrease of total income by 10.63 million Saudi Riyals representing decrease of cylinder and gas sales and increase of marketing and sales expenses by 1.15 million Saudi Riyals and decrease of investment revenue by 5.74 million Saudi Riyals although the decrease of overhead by 7.59 million Saudi Riyals and decrease of Zakat by 2.90 million Saudi Riyals |
| External auditor's report containing reservation |
Without reservation in our conclusions, we draw attention to the note number (22) of the attached financial statements, that there is lawsuit brought against Public Prosecution in relation to the explosion of company s vessel took place in Riyadh in 2012. On April 26, 2018 the appealable preliminary adjudication was issued dismissing the lawsuit brought against the company. The final results for this lawsuit and financial obligations resulting thereof (if any) cannot be determined currently, and our conclusions were not amended based on this matter. |
| Reclassifications in quarterly financial results |
Specific comparison numbers were re-indexed to match figures of current period |
| Other notes |
The total revenue during the current quarter was 473 million Saudi Riyals against 499 millions Saudi Riyals in the equivalent quarter last year, representing decrease of 5.2% against 490 million Saudi Riyals of the last year of current year representing decrease of 3.4% The total revenue of current period is 963 millions Saudi Riyals against 1.019 millions Saudi Riyals of the equivalent period of last year representing decrease of 5.49%. Moreover, equity (no minority rights) as at 30 June 2018 was 1.142 million Saudi Riyals against 1.116 millions Saudi Riyals as at 31 December 2017 representing increase of 2.3% Against 1.164 millions Saudi Riyals as at 30 June 2017 decrease of 1.89% The total consolidated income of second quarter of current year was 33 million Saudi Riyals against 31 millions Saudi Riyals for equivalent quarter of last year representing increase of 6.4% against 52 million Saudi Riyals of the last quarter of current year representing decrease of 36.5% The consolidated income of current period is 85 million Saudi Riyals against 97 million Saudi Riyals for the equivalent period of last year representing decrease of 12% The company implemented the Financial Statements International Standards 15 and 9 starting from 1st of January 2018 without significant impact on the company financial statements Internal auditor audited the financial statements and issued un-modified conclusion verification report. |
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