Saudi Real Estate Co. announces its Interim Financial Results for the Period Ending on 2019-09-30( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 87.8 | 69 | 27.246 | 71.8 | 22.284 |
| Gross Profit (Loss) | 43.5 | 36 | 20.833 | 37.8 | 15.079 |
| Operational Profit (Loss) | -2 | 4.8 | - | 7.3 | - |
| Net Profit (Loss) after Zakat and Tax | 9 | 12.7 | -29.133 | 21.5 | -58.139 |
| Total Comprehensive Income | -2.5 | 5.2 | - | 5.8 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 232 | 232.4 | -0.172 |
| Gross Profit (Loss) | 126.7 | 148.6 | -14.737 |
| Operational Profit (Loss) | 6.8 | 58.2 | -88.316 |
| Net Profit (Loss) after Zakat and Tax | 49 | 87.6 | -44.063 |
| Total Comprehensive Income | 26 | 54.2 | -52.029 |
| Total Share Holders Equity (after Deducting Minority Equity) | 3,187 | 3,462 | -7.943 |
| Profit (Loss) per Share | 0.2 | 0.36 | |
| 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 | Reason for the decrease in net profit for current quarter compared to the same quarter of the previous year is due to the fllowing :
1. The increase in general & administrative and selling & marketing expenses 2. The increase in financae cost as a result of adopting international standard No (16) 3. The increase in cost of revenue is due to the expansion in Alakaria’s Subsidiaries activities, which increased the revenue compared to same peroid last year |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | Reason for the decrease in net profit for current quartur compared to the previous qurater is due to increase in general & administrative and selling & marketing expenses . |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | Reason for the decrease in net profit for current period compared to the same period of the previous year is due to the fllowing :
1. The decrease in leasing revenue , units price & occupancy rate caused by certain tenants’ evacuation. 2. The increase in financae cost as a reusalt of adopting international standard No (16) 3. The increase in cost of revenue is due to the expansion in Alakaria’s Subsidiaries activities, which increased the revenue compared to same period last year |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Additional Information | following the adoption of the international standard No (16), which had started on January 1, 2019, the company reliazed extra rights of usage. Please check note No. (3) in the notes section of the in-house fiancial statements for the period ended Sep. 30th, 2019. stock profitability had been modified and retroactived accordingly for the same mentioned period after increasing the capital to 240 Million stock (note 7) |
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