Taiba Investments Co. announces its interim Financial results for the period ending on 2019-06-30 ( Six Months )

30 July 2019 08:40 AM

TAIBA 4090 0.73% 27.40 0.20

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	108.29	107.58	0.659	94.53	14.556
Total Profit (Loss)	63.63	64.53	-1.394	51.74	22.98
Profit (Loss) Operational	43.33	48.5	-10.659	38.12	13.667
Net Profit (Loss) after Zakat and Tax	49.24	46.48	5.938	31.29	57.366
Total Comprehensive Income	97.64	-20.17	-	66.16	47.581
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	202.82	209.84	-3.345
Total Profit (Loss)	115.37	125.49	-8.064
Profit (Loss) Operational	81.45	94.19	-13.525
Net Profit (Loss) after Zakat and Tax	80.53	73.69	9.282
Total Comprehensive Income	163.81	106.64	53.61
Total Share Holders Equity (after deducting minority equity)	3,805.25	3,619.04	5.145
Profit (Loss) per Share	0.53	0.49
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 net income increase in Q2 2019 in comparison to Q2 2018 is mainly explained by slight increase in revenues and increase in dividends received from the investments in listed companies and lower Zakat expenses as previous years' Zakat adjustments from GAZT were provided for in Q2 2018. In addition, the company has completed the acquisition of 8.10% of non controlling interest of Alaqeeq company and 12.65% of Arac company which resulted in increasing the net profit for the company shareholders.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter	The net income increase in Q2 2019 in comparison to Q1 2019 is mainly explained by the increase in revenues and increase in dividends received from the investments in listed companies. In addition, the company has completed the acquistion of 8.10% of non controlling interest of Alaqeeq company and 12.65% of Arac company which resulted in increasing the net profit for the company shareholders.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year	The net income increase in current period in comparison to the same period last year is mainly explained by lower Zakat expenses as previous years' Zakat adjustments from GAZT were provided for in 2018 period. In addition, the company has completed the acquistion of 8.10% of non controlling interest of Alaqeeq company and 12.65% of Arac company which resulted in increasing the net profit for the company shareholders.
Type of the external auditor's opinion	Unmodified opinion
External auditor's report containing reservation	Doesn't exist
Reclassifications in quarter financial result	"Some of the comparative figures were reclassified for comparability. "
Additional Information	The total comprehensive income for the six months ended 30 June 2019 was increased by SAR 57.17 million compared to the same period last year (163.81 million in 2019 against 106.64 million in 2018) as a result of the revalutation of its investment in equity shares of listed companies at the date of the financial statements.

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