Abdullah Al Othaim Markets Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,744.69 | 1,627.85 | 7.177 | 2,022.47 | -13.734 |
| Total Profit (Loss) | 339.93 | 318.56 | 6.708 | 375.18 | -9.395 |
| Profit (Loss) Operational | 45.07 | 45 | 0.155 | 67.2 | -32.931 |
| Net Profit (Loss) after Zakat and Tax | 54.31 | 150.62 | -63.942 | 74.11 | -26.717 |
| Total Comprehensive Income | 54.61 | 150.41 | -63.692 | 72.7 | -24.883 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 5,565.42 | 5,259.95 | 5.807 |
| Total Profit (Loss) | 1,056.64 | 994.62 | 6.235 |
| Profit (Loss) Operational | 176.4 | 172.31 | 2.373 |
| Net Profit (Loss) after Zakat and Tax | 195.68 | 281.98 | -30.605 |
| Total Comprehensive Income | 194.27 | 280.13 | -30.65 |
| Total Share Holders Equity (after deducting minority equity) | 1,554.12 | 1,423.49 | 9.176 |
| Profit (Loss) per Share | 2.17 | 3.13 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | Consolidated net profit declined by 63.94% compared with the same quarter of the previous year mainly because the results of the corresponding quarter include the sum of SR 100.08 million income from discontinued operations, net of zakat, realized from operating and disposing of the shopping mall in Hail city. When eliminating the effect of the discontinued operations, from the corresponding quarter, the net profit of the current quarter would become higher than the corresponding quarter by 7.45%. This increase is due to the following reasons: - Sales growth by 7.18%. - Saving in financing expenses due to the early settlement of long-term loans. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Consolidated net income for the third quarter declined by 26.72% compared with the second quarter of the current year mainly due to: - Sales declined by 13.73% as a result of the occurrence of Ramadan season in the second quarter. - Decrease in real estate revenues. - Increase in financing expenses. Despite the increase in the Company profits from the associates. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | Consolidated net profit declined by 30.61% compared with the corresponding period last year mainly because the results of the corresponding period include the sum of SR 106.86 million income from discontinued operations, net of zakat, realized from operating and disposing-of the shopping mall in Hail city. When eliminating the effect of the discontinued operations, from the corresponding period, the net profits of the current period would become higher than the corresponding period by 11.74%. This increase is due to the following reasons: - Sales growth by 5.81% due to expansion in new branches. - Saving in financing expenses due to the early settlement of long-term loans. - The results of the corresponding period include the sum of SR 3.5 million loss from a fire incident occurred at one of the branches and reimbursed in the fourth quarter of 2017. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | 1. Some comparative figures have been restated to be consistent with the presentation of the current period in accordance with the International Financial Reporting Standards (IFRS). 2. Sales and cost of sales for the current and comparative periods have been restated in accordance with IFRS No. 15, by reducing both items against suppliers' subsidies granted to customers on points of sale and vouchers sales. Sold vouchers were no longer recognized as sales. Instead, the related commission is being recognized and presented in a separate line. However, there are no financial impact of these restatements on net profit for the current and comparative figures. 3. Earnings per share for the current and comparative periods were restated to reflect the increase in the Company capital from 45 million shares to 90 million shares through capitalization pursuant to the resolution of the extraordinary shareholders general assembly on April 23, 2018. |
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