Consumer Travel recorded SAR 1.127 billion in GBV for Q2 2019 with the online business posting SAR 844 million, a 70% growth over last year, and is well positioned to achieve the SAR 3 billion target for FY 2019.

Car Rental posted a significant jump in its revenue, almost doubling as compared to Q2 2018, with a growth of 91% to SAR 60 million

Hospitality grew by 11% as compared to Q2 2018 to SAR 46M due to improved performance and operational efficiency from owned assets.

Group revenue declined by 8% in Q2 2019 to SAR 488m vs SAR 531m in Q2 2018. The reasons for the decline reflects the non-renewal of the Ministry of Education (MOE) contract.

Net profit declined by 39% to SAR 65m from SAR 107m reported in Q2 2018.

Total operating expenses in Q2 2019 are SAR 256 million, representing an increase of 13% compared to Q2 2018. Selling and administrative expense is higher as compared to last year due to expansion in the consumer travel business. Operating expenses as a percentage of revenue is 52%, which is below the international peer average.

Excluding the impact of below exceptional items, the company achieved normalized net profit of SR 76 million during the quarter with a decrease of 51% as compared to the same quarter of previous year

- Impairment loss/(gain) on trade receivables amounting to SR 3 million (2018: SR 71 million gain)

- Provision recorded for Zakat amounting to SR 8 million (2018: 83 million primarily to cover previous years reassessment)

- Loss on disposal of charter plane amounting to SR NIL (2018: SR 36 million).

The net profit for the current quarter has increased by 38% compared to the previous quarter mainly due to increase in revenue and seasonality difference.

Excluding the impact of bellow exceptional items, the company would have generated a net profit of SR 68 million during the quarter with an increase of 41% as compared to the previous quarter

- Impairment loss on trade receivables amounting to SR 3 million (Q1 2019: SR 7 million)

- Gain on disposal of subsidiaries amounting to SR NIL (Q1 2019: SR 17 million)

- Recognized foreign currency loss on disposal of subsidiaries amounting to SR NIL (Q1 2019: SR 11 million).

Consumer Travel recorded SAR 1.79 billion in GBV for the period with the online business posting SAR 1.3 billion with 53% growth compared to last year

Car Rental posted significant jump in its revenue as compared to 2018, with a growth of 76% to SAR 109 million

Hospitality Although the hospitality sector is highly competitive, the Group has improved its performance and operational efficiency, particularly for the owned assets that has helped in retaining our top line in this business with a marginal growth of 1% to SR 74m and has been able to recover the decline in Q1 by growing sales in Q2

Group revenue for the period declined by 6% to SAR 954m vs SAR 1,013m in the same period last year. The reasons for the decline reflects the non-renewal of the Ministry of Education (MOE) contract.

Net profit for the period has declined by 42% to SAR 112m from SAR 193m reported in previous year.

Total operating expenses for the current period is SAR 489 million, representing an increase of 12% compared to last year. Selling and administrative expense is higher as compared to the previous year due to expansion in the consumer travel business. Operating expenses as a percentage of revenue is 51%, which is below the international peer average.

Excluding the impact of bellow exceptional items, the company would have generated a net profit of SR 135 million during the period with a decrease of 49% as compared to previous year

- Impairment loss on trade receivables amounting to SR 10 million (2018: SR 59 million gain)

- Provision recorded for Zakat amounting to SR 18 million primarily to cover previous years reassessment (2018: 93 million)

- Gain on disposal of subsidiaries amounting to SR 17 million (2018: SR NIL)

- Recognized foreign currency loss on disposal of subsidiaries amounting to SR 11 million (2018: SR NIL).

- Loss on disposal of charter plane amounting to SR NIL (2018: SR 36 million).

2 The gross profit for the current quarter is SAR 341 million as compared to SAR 405 million during the same quarter of the previous year with a decrease of 16%. The gross profit for the current period is SAR 643 million as compared to SAR 760 million for the same period of the previous year showing a decrease of 15%.

3 The operating profit for the current quarter is SAR 87 million as compared to SAR 218 million during the same quarter for the previous year with a decline of 60%. The operating profit for the current period is SAR 152 million as compared to SAR 353 million for the same period of the previous year showing a decrease of 57 %.

4 The net profit after zakat and tax for the current quarter is SAR 66 million as compared to SAR 103 million during the same quarter of the previous year showing a decrease of 35%.

The net profit after non controlling interest for the current quarter is SAR 65 million as compared to SAR 107 million for the same quarter of the previous year with a decrease of 39%.

The net profit after zakat and tax for the current period is SAR 115 million as compared to SAR 185 million for the same period of the previous year with a decrease of 38%.

The net profit after non controlling interest for the current period is SAR 112 million as compared to SAR 193 million for the same period of previous year with a decrease of 42%.

5 The total comprehensive income for the current quarter before non controlling interests is SAR 62 million as compared to SAR 89 million for the same quarter of previous year decreased by 30%. The total comprehensive income after non controlling interest for the current quarter is SAR 61 million as compared to SAR 93 million for the same quarter of the previous year showing a decrease of 35%.

The total comprehensive income before non controlling interest for the current period is SAR 117 million as compared to SAR 180 million for the same period of previous year with a decrease of 35%. The total comprehensive income after the non controlling interest for the current period is SAR 115 million as compared to SAR 188 million for the same period of previous year with a decrease of 39%.

The total comprehensive income for the current quarter before non controlling interests SAR 62 million as compared to SAR 55 million for the previous quarter with an increase of 13%. The total comprehensive income for the current quarter after non controlling interests SAR 61 million as compared to SAR 53 million for the previous quarter with increase of 14%.

6 Earnings per share for the current quarter is SR 0.22 as compared to earnings per share of SR 0.36 for the same quarter of previous year. Earnings per share for the current period is SR 0.37 per share as compared to SR 0.64 per share in the same period of previous year

7 The shareholders equity (without non controlling interest) as at the end of the current period is SAR 5772 million as compared to SAR 6096 million in the previous year (without minority interest) decreased by 5%.