Saudi Airlines Catering 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 | 627.7 | 602.2 | 4.234 | 562 | 11.69 |
| Total Profit (Loss) | 153.1 | 140.7 | 8.813 | 130.2 | 17.588 |
| Profit (Loss) Operational | 154 | 141.2 | 9.065 | 131.1 | 17.467 |
| Net Profit (Loss) after Zakat and Tax | 142.6 | 130.4 | 9.355 | 120.3 | 18.536 |
| Total Comprehensive Income | 142.6 | 130.4 | 9.355 | 120.3 | 18.536 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,720.8 | 1,687.2 | 1.991 |
| Total Profit (Loss) | 412.8 | 416 | -0.769 |
| Profit (Loss) Operational | 417.3 | 417.3 | - |
| Net Profit (Loss) after Zakat and Tax | 383.1 | 382.8 | 0.078 |
| Total Comprehensive Income | 383.1 | 382.8 | 0.078 |
| Total Share Holders Equity (after deducting minority equity) | 1,322.8 | 1,262.3 | 4.792 |
| Profit (Loss) per Share | 4.67 | 4.67 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | |
|---|---|---|
| 0 | 820,000,000 |
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is mainly due to: 1) increase in sales from In-flight catering and Business Lounge activities. 2) General & Administrative expenses decreased mainly due to account receivables provision due to effective collection initiatives and reduction in professional service fees. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | The reason for the increase in net profit during the current quarter compared to the previous quarter is mainly due to: 1) Increase in sales from In-flight catering and Retail activities. 2) General & Administrative expenses decreased mainly due to account receivables provision due to effective collection initiatives and reduction in professional service fees. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | Net profit during the current period compared to the last year is on the similar level how-ever this was achieved by: 1) Under Cost of Revenue: The cost of material decreased by 2.8% how-ever an increase was noticed in the work permits cost, rents & labor inflation to nullify the benefit. 2) Under General & Administrative expenses: The increase in other provision (non-Account Receivable) was nullified by similar decrease in professional service fees & account receivable provisions |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | Impairment / (Reversal) of trade receivable re-classed from General & Administrative to a separate line on the statement of profit or loss & Other Comprehensive Interim |
| Additional Information | 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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