Emaar The Economic City announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 346 | 281 | 23.131 | 372 | -6.989 |
| Total Profit (Loss) | 138 | 93 | 48.387 | 151 | -8.609 |
| Profit (Loss) Operational | -13 | -22 | -40.909 | -34 | -61.764 |
| Net Profit (Loss) after Zakat and Tax | 13 | 3 | 333.333 | 58 | -77.586 |
| Total Comprehensive Income | 4 | 3 | 33.333 | 47 | -91.489 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 7,880 | 8,013 | -1.659 |
| Profit (Loss) per Share | 0.016 | 0.003 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 631,111,354 | 8,500,000,000 | 7.4 |
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | Profit in the current quarter has increased as compared to the corresponding period primarily due to the higher order intake of residential projects and change in infrastructure cost estimates of residential projects. Moreover, decrease in operating assets' losses and gain on disposal of investment properties have also contributed to the profit for the current quarter.
The above-mentioned impacts are partially offset by the following factors: - Increase in general and administrative expenses. - Increase in financial charges due to increase in SIBOR - Impairment loss on outstanding trade receivables. - Decrease in the Group’s share of results of investee (Ports Development Company). |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Profit in the current quarter has decreased as compared to the previous quarter primarily due to reduction in other income. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | 'Certain comparative amounts have been reclassified to conform to the current period's presentation. |
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