Saudi Public Transport Co. announces its Annual financial results for the period ending on 2018-12-31

13 March 2019 08:12 AM

SAPTCO 4040 34.70% 21.66 5.58

Element List	Explanation
Reason for increase (decrease) in net profit for current year compared to last year	The decrease in net income for the year compared with the previous year because of: - Increase in operating costs and depreciation expenses due to addition of new buses, despite of higher revenues. - Increase in marketing and general administration expenses. - Record losses and impairment in fixed assets in accordance with IAS 36. - Inconsiderable decrease in profits of joint venture. - Decrease of financing income. - Losses in an associate company ( Capital Metro Company Limited) which did not start operating. - Increase in financing cost. - Increase of Zakat expenses.
Type of the external auditor's opinion	Unmodified opinion

Element List

Explanation

Reason for increase (decrease) in net profit for current year compared to last year

The decrease in net income for the year compared with the previous year because of:

- Increase in operating costs and depreciation expenses due to addition of new buses, despite of higher revenues.

- Increase in marketing and general administration expenses.

- Record losses and impairment in fixed assets in accordance with IAS 36.

- Inconsiderable decrease in profits of joint venture.

- Decrease of financing income.

- Losses in an associate company ( Capital Metro Company Limited) which did not start operating.

- Increase in financing cost.

- Increase of Zakat expenses.

Type of the external auditor's opinion

Unmodified opinion

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