Alandalus Property 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 | 40.51 | 38.85 | 4.272 | 41.28 | -1.865 |
| Total Profit (Loss) | 22.58 | 21.26 | 6.208 | 24.1 | -6.307 |
| Profit (Loss) Operational | 23.75 | 28.41 | -16.402 | 22.48 | 5.649 |
| Net Profit (Loss) after Zakat and Tax | 12.62 | 26.42 | -52.233 | 12.16 | 3.782 |
| Total Comprehensive Income | 12.62 | 26.42 | -52.233 | 12.16 | 3.782 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 122.57 | 108.06 | 13.427 |
| Total Profit (Loss) | 71.46 | 64.55 | 10.704 |
| Profit (Loss) Operational | 75.08 | 86.39 | -13.091 |
| Net Profit (Loss) after Zakat and Tax | 45.31 | 103.43 | -56.192 |
| Total Comprehensive Income | 45.31 | 103.43 | -56.192 |
| Total Share Holders Equity (after deducting minority equity) | 1,133.65 | 1,228.34 | -7.708 |
| Profit (Loss) per Share | 0.65 | 1.48 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | |
|---|---|---|
| 0 | 700 |
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | the net profit attributable to shareholders of the parent company has decreased mainly because of: *The change of ownership interests of the Parent Company in both Al-Andalus mall and Staybridge hotel which are owned by Alahli REIT 1 fund. * the decrease in operating profit as a result of the increase in general and admin expenses due to alahli REIT1 fund management fees, and finally as result of the decrease in income from investment in associate companies. Net profit decreased despite the increase in gross profit |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | the net profit attributable to shareholders of the parent company has increased mainly to the increase in other revenues and the decrease of the allowance of impairment losses related to receivables from operating leases. In despite the decrease in gross profit. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | the net profit attributable to shareholders of the parent company has decreased mainly because of: *The change of ownership interests of the Parent Company in both Al-Andalus mall and Staybridge hotel which are owned by Alahli REIT 1 fund. *Achieving a gain on a land excluded from investment properties and used as in-kind share to a new associate company in the same period of the previous year.
* the decrease in operating profit as a result of the increase in general and admin expenses due to alahli REIT1 fund management fees, in addition to the increase of the allowance of impairment losses related to receivables from operating leases, and finally as result of the decrease in income from investment in associate companies. Net profit decreased despite the increase in gross profit |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | Some of the figures related to comparable periods have been reclassified and represented to conform with the classification of current period figures |
| Additional Information | Starting from 1 January 2018, the company applied IFRS 9 and IFRS 15, This application did not cause any significant impact on the company financial statements. |
| Attached Documents |
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