Saudi Airlines Catering Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)

05 August 2018 08:48 AM

CATRION 6004 17.65% 124.00 18.60

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	120.3	131	-8.17	120.3	0
Gross profit (loss)	189.4	196.3	-3.52	175.3	8.04
Operational profit (loss)	131.1	144.8	-9.46	132.7	-1.21
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	240.5	252.4	-4.71
Gross profit (loss)	364.7	363.3	0.39
Operational profit (loss)	263.8	276.1	-4.45
Earning or loss per share, Riyals	2.93	3.08	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The main reasons for the decrease in net profit during the current quarter compared to the same quarter last year are 1) decrease in Retail sales and 2) increase in G&A, mainly related to changes in an account receivables provision as a result from IFRS 9 implementation
Reasons of increase (decrease) for period compared with same period last year	The main reasons for the decrease in net profit during the current period compared to the last year same period are 1) decrease in sales in Retail and 2) loss from the Associated Company
Reasons of increase (decrease) for quarter compared with previous quarter	The net profit from the previous quarter were at the similar level.
Other notes	- Revenue during the current period was 1,093 Million compared to 1,085 Million for the previous year same period, representing an increase of 0.75% coming mainly from In-flight catering & Business lounge activities - Revenue during the current quarter was 562.0 Million compared to 551.1 Million same quarter last year with an increase of 2% and with an increase of 5.8% compared to previous quarter revenue of 531.1 Million. - Total shareholders' equity at the end of the current period (no minority interest) amounted to 1,310.3 Million compared to 1,282.9 Million at the end of previous year (no minority interest), representing an increase of 2.1% - Total shareholders' equity at the end of the current quarter (no minority interest) amounted to 1,310.3 Million compared to 1,307.9 Million corresponding quarter of the previous year (no minority interest) with an increase of 0.2% and with an increase of 0.85% compared to the end of previous quarter 1,298.5 Million (no minority interest). - Total Comprehensive Income for the current period was 240.5 Million compared to 252.4 Million for the same period of last year, representing a decrease of 4.7% - Total Comprehensive Income for the current period was 120.3 Million compared to 131.0 Million for the corresponding period of last year with a decrease of 8.2% and at the same level compared to previous quarter 120.3 Million -Total Gross profit for the current quarter was 189.4 Million compared to 196.3 Million for the same quarter of last year, representing a decrease of 3.5 %. -Total operating profit for the current quarter was 131.1 Million compared to 144.8 Million for the same quarter of last year, representing a decrease of 9.5%. -Total net profit after Zakat and income tax for the current quarter was 120.3 Million compared to 131 Million for the same quarter of last year, representing a decrease of 8.9% and were at the similar level compared to the end of previous quarter. -Total Gross profit during the current period was 364.7 Million compared to 363.3 Million for the previous year same period, representing an increase of 0.39% -Total operating profit during the current period was 263.8 Million compared to 276.1 Million for the previous year same period, representing a decrease of 4.45%. -Total net profit after Zakat and income tax during the current period was 240.5 Million compared to 252.4 Million for the previous year same period, representing a decrease of 4.71%. -Total earning share for the current period was SAR 2.93 compared to SAR 3.08 for the previous year same period, representing a decrease of 4.9%. Interim Consolidated Financial Statements for the current period have been prepared according to the International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia.

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