Dar Alarkan Real Estate Development Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)

30 July 2018 03:57 PM

DAR ALARKAN 4300 -9.42% 13.66 -1.42

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	108.6	10.94	892.69	331.12	-67.2
Gross profit (loss)	266.17	160.14	66.21	474.61	-43.92
Operational profit (loss)	218.82	113.78	92.32	436.45	-49.86
All figures are in Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	439.72	23.08	1,805.2
Gross profit (loss)	740.78	295.83	150.41
Operational profit (loss)	655.27	210.97	210.6
Earning or loss per share, Riyals	0.41	0.02	-
All figures are in Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The increase in net income is mainly due to the higher property sale. The increase in finance cost, operating expenses, the decrease in lease revenue and the decrease in income from associates partially offset with the increase in non-operating income received from deposits.
Reasons of increase (decrease) for period compared with same period last year	The increase in net income is mainly due to the higher property sale. The increase in finance cost, operating expenses, the decrease in lease revenue and the decrease in income from associates partially offset with the increase in non-operating income received from deposits.
Reasons of increase (decrease) for quarter compared with previous quarter	The decrease in net income is mainly due to the lower property sale. The increase in operating expenses, finance cost and the decrease in income from associates partially offset by the increase in no-operating income received from deposit.
External auditor's report containing reservation	no
Reclassifications in quarterly financial results	nil
Other notes	1. The total sales realized for the quarter amounting to SAR 1,784.8 million , compared to SAR 456.49 million for the for the similar quarter in the previous year , a increase of 290.98% and compared to SAR 2793.91 million for the previous quarter, a decrese of 36.12%. The total sales realized for the period amounting to SAR 4,578.72 million , compared to SAR 816.82 million for the for the similar period in the previous year , a increase of 460.55%. 2. Total comprehensive income, attributable to owners of the Company, for the current quarter amounted to SAR 108.6 million, as compared to SAR 10.94 million for the similar quarter in the previous year , a increase of 892.69% and compared to SAR 331.12 million, for the previous quarter , a decrease of 67.20%. Total comprehensive income, attributable to owners of the Company, for the current period, amounted to SAR 439.72 million, as compared to SAR 23.08 million, for the similar period of the previous year, a increase of1805.20%. 3. Total equity (excluding minority interests) was SAR 18,633.27 million , compared to SAR 18,200.58 million for the similar period in the previous year, an increase of 2.38%.

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