| Reasons of increase (decrease) for quarter compared with same quarter last year |
The net profit has declined by SAR 9.6 million compared to previous year same quarter despite an increase in revenue by SAR 645K. This is because of an increase in operating cost by SAR 57.8 million due to cost of living allowance provided to staff effective January 2018 and increase in other operating expenses. G&A expenses dropped by SAR 48.8 million due to reduction in provisions. Further the share of profit from equity accounted investee decreased by SAR 3 million and profit from murabaha investment increased by SAR 1.5 million. |
| Reasons of increase (decrease) for period compared with same period last year |
The net profit compared to previous year corresponding period has declined by SAR 58 million because of a decrease in revenue by SAR 21.3 million due to price reduction and operating cost has increased by SAR 77.6 million due to cost of living allowance provided to staff, increase in personnel and other operating cost. G&A has reduced by SAR 48.4 million mainly due to the reduction in the provisions compared to previous year corresponding period. Further the share of income from equity accounted investee and profit from murabaha investment has dropped by SAR 6 million and SAR 1.4 million respectively. |
| Reasons of increase (decrease) for quarter compared with previous quarter |
The net profit compared to previous quarter has increased by SAR 6 million due to the increase in revenue by SAR 38 million due to ramadan season. However, the operating cost has increased by SAR 29.5 million due to seasonal expenses and increase in other operating cost. G&A has increased by SAR 3.6 due to increase in consultancy and staff training expenses. Further there was an increase in the profit from murabaha investment by SAR 1 million. |
| Reclassifications in quarterly financial results |
Some prior period comparatives have been regrouped to conform to current period classifications. These classifications did not affect either net profit or share holders equity of the period of comparision. |
| Other notes |
Total revenue for the current quarter amounted to SAR 659.9 million compared to SAR 659.3 million for the same quarter of the previous year which is an increase of 0.1%. The comprehensive income for the current quarter is SAR 112.7 million compared to SAR 122.3 million for the same quarter last year, which is a decline of 7.8%. The comprehensive income for the current quarter is SAR 112.7 million compared to SAR 106.7 million for the previous quarter, which is an increase of 5.7%. The comprehensive income for the current period amounts to SAR 219.4 million compared to SAR 277.4 million for the same period last year which is a decrease of 20.92%. The Company has no minority interest with total shareholders' equity reaching to SAR 2,969.2 million for the current period compared to SAR 2,872.1 million for the same period last year which is an increase of 3.4%. |
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