Fawaz Abdulaziz Alhokair Co. announces its interim Financial results for the period ending on 2018-12-31 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,233 | 1,349 | -8.598 | 1,273 | -3.142 |
| Total Profit (Loss) | 276.6 | 318.7 | -13.209 | 249.9 | 10.684 |
| Profit (Loss) Operational | 85.2 | 103.2 | -17.441 | 65.2 | 30.674 |
| Net Profit (Loss) after Zakat and Tax | 26.5 | 48.6 | -45.473 | 10 | 165 |
| Total Comprehensive Income | 22.6 | 12.8 | 76.562 | 11.4 | 98.245 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 4,353 | 4,923 | -11.578 |
| Total Profit (Loss) | 1,049.9 | 1,169.2 | -10.203 |
| Profit (Loss) Operational | 465.1 | 454.5 | 2.332 |
| Net Profit (Loss) after Zakat and Tax | 285.7 | 287.9 | -0.764 |
| Total Comprehensive Income | 278 | 206 | 34.951 |
| Total Share Holders Equity (after deducting minority equity) | 2,526 | 2,248 | 12.366 |
| Profit (Loss) per Share | 1.36 | 1.37 | |
| 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 | The company posted a Net Profit of SAR 26.5 million, a decrease of 45.5% compared to the same period last year as direct result of the decrease in sales by 8.6% during the same period. Despite the decrease in sales in this quarter compared to the same quarter of last year by SAR 116 million the Net Profit decreased only by SAR 24.2 million as result of the following elements: 1) Decrease in the direct cost decrease by 7.2% compared to the same quarter of the previous year. 2) Reduction of sales and marketing expenses by 13.4% compared to the same quarter of the previous year. 3) Reduction in general and administrative expenses by 5% compared to the same quarter of the previous year. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | The Net Profit of this quarter increased by 164% compared to previous quarter as result of the increase in Gross Profit by 11% due to lower direct cost in this quarter as compared to the previous quarter. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | The Net Profit for first nine months is SAR 285.7 million is only 0.76% below the Net Profit for the same period of last year. Despite the fact that sales were below last year same period by SAR 570 million the company was able to protect its Net Profit for the first nine month of this year as result of its cost and buying controls. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | Certain figure for the prior period have been re-measured and reclassified in order to be in line with the international accounting standards IFRS used to prepare the Financial Statements. |
| Additional Information | Sales for the third quarter of this year reached 1233 million riyals compared to 1349 million riyals, a decrease of 8.6% compared to the same quarter of the previous year. Total Sales for the first nine months was 4353 million riyals compared to 4923 million riyals, a decrease of 11.5% compared to the same period of last year. The Net Profit for first nine months is SAR 285.7 million is only 0.76% below the Net Profit for the same period of last year. Despite the fact that sales were below last year same period by SAR 570 million the company was able to protect its Net Profit for the first nine month of this year as result of its cost and buying controls. The total shareholders 'equity (no minority interest) as at 31 December 2018 amounted to SR 2,526 million, an increase of 12.36% compared to total shareholders' equity (no minority interest) amounting to SR 2,248 million as at 31 March 2018. Total income during the period amounted to SR 278 million compared to SR 206 million in the same period of the previous year, an increase of 35%. |
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