UNITED INTERNATIONAL TRANSPORTATION COMPANY (BUDGET-SAUDI) ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30 JUNE 2018 (Six Months).
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 40,831 | 42,665 | -4.3 | 39,593 | 3.13 |
| Gross profit (loss) | 63,749 | 63,907 | -0.25 | 64,885 | -1.75 |
| Operational profit (loss) | 44,507 | 47,980 | -7.24 | 43,366 | 2.63 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 80,424 | 85,132 | -5.53 |
| Gross profit (loss) | 128,634 | 129,957 | -1.02 |
| Operational profit (loss) | 87,873 | 96,080 | -8.54 |
| Earning or loss per share, Riyals | 1.13 | 1.2 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in net profit in current quarter compared to same quarter last year is mainly due to decrease of revenue from short rental and lower revenue from car sale gain as a result of comparatively low number of vehicles sold. |
| Reasons of increase (decrease) for period compared with same period last year | The decrease of net profit in current period compared to same period last year was mainly due to the decrease of revenue from short rental and lower revenue from car sale gain as a result of comparatively low number of vehicles sold. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The increase of net profit in current quarter compared to previous quarter was due to marginal increase in the short rental due to improved utilization rate in this quarter compared to immediate previous quarter |
| Reclassifications in quarterly financial results | Certain comparative figures have been reclassified to conform to the current period's presentation according to International Financial Reporting Standards (IFRS). |
| Other notes | 1- The revenue of the current quarter is SR 250 million compared to SR 281 million for the same quarter last year with decrease of 11%. 2- The revenue of the current period is SR 521 million compared to SR 580 million for the same period last year with decrease of 10%. 3- The Total Comprehensive Income during the current Quarter is SR 40.8 million compared to SR 42.7 million for same quarter last year with decrease of 4.4% and compared to SR 39.6 million for previous quarter with increase of 3%. 4- The Total Comprehensive Income of the current period is SR 80.4 million compared to SR 85.1 million for same period last year with decrease of 5.5%. 5- The shareholders equity (no minatory Interests) as of 30 June 2018 amounted to SR 1044 Million compared to SR 1070 Million as of 30 June 2017 with decrease of 2.4%. 6- The decrease of Income from operation in current quarter compared to same quarter last year was mainly due to decrease of revenue from the short rentals. 7- The decrease of Income from operation in current period compared to same period last year was mainly due to the decrease of revenue from the short rentals. 8- The External Auditor reviewed the financial statements and issued unmodified report. |
Comments