Taiba Investments Co. announces its Interim Financial Results for the Period Ending on 2019-09-30 ( Nine Months )

03 November 2019 08:45 AM

TAIBA 4090 0.73% 27.40 0.20

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	137.53	134.57	2.199	108.29	27.001
Gross Profit (Loss)	85.43	86.06	-0.732	63.63	34.26
Operational Profit (Loss)	69.4	69.84	-0.63	43.33	60.166
Net Profit (Loss) after Zakat and Tax	67.85	60.11	12.876	49.24	37.794
Total Comprehensive Income	9.31	210.25	-95.571	97.64	-90.464
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	340.35	344.41	-1.178
Gross Profit (Loss)	200.81	211.55	-5.076
Operational Profit (Loss)	150.84	164.02	-8.035
Net Profit (Loss) after Zakat and Tax	148.38	133.8	10.896
Total Comprehensive Income	173.11	316.88	-45.37
Total Share Holders Equity (after Deducting Minority Equity)	3,740.91	3,766.71	-0.684
Profit (Loss) per Share	0.96	0.89
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	The increase in net profit is attributable to the increase in revenues and decrease in Zakat expenses as a result of reversal of previous years' Zakat provision after final settelment with GAZT . 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.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The increase in net profit is attributable to the increase in revenues and decrease in marketing, general and administrative expenses
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to	The increase in net profit in the current period in comparison to the same period last year is mainly explained by the increase in income from short term investments and lower Zakat expenses as previous years' Zakat adjustments from GAZT were provided for in the corresponding period last year. 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.
Basis of the External Auditor's Opinion	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	Doesn't exist
Reclassification of Comparison Items	Some of the comparative figures were reclassified for comparability.
Additional Information	"The total comprehensive income as of 30th September 2019 was decreased by SAR 143.8 million compared to the same period last year as a result of the revalutation of its investment in equity shares at fair value at the date of the financial statements. The earnings per share was calculated by dividing the net income for the period attributable to the ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding at the date of the financial statements. (154,328,555 shares at 30th September 2019 aganist 150,000,000 shares at 30th September 2018) .The company share capital has been increased at 10/06/2019 through issuing new shares in order to acquire 8.10% of non controlling interest of Alaqeeq company and 12.65% of Arac company after completing all legal procedures. The operating profit reported here for the comparative quarter & period last year has been changed to SR 69.84 million & 164.02 million respectively from SR 75.83 million & SR 175.58 million respectivly as reported on 31 October 2018 as a result of reclassification of part of the operating revenues to other revenues "

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