Advanced Building Industries Co. — Earnings Release 2017

Mar 26, 2018

Zamil Industrial Investment Company Announces its Annual Consolidated Financial Results for the Period Ending on 31-12-2017

2240 · 26/03/2018 15:47:04 · Announcement #49849 · View on Saudi Exchange

Zamil Industrial Investment Company Announces its Annual Consolidated Financial Results for the Period Ending on 31-12-2017

Element	Current year	Previous year	% Change
Net profit (loss)	105,018	146,381	-28.26
Earning or loss per share, Riyals	1.75	2.44	-
Gross profit (loss)	887,577	1,071,071	-17.13
Operational profit (loss)	226,540	333,557	-32.08

*All figures are in (Thousands) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	Decrease in Net Profit was due to lower sales and operating margins in AC, Steel and Insulation sectors attributable to project delays as a result of general slowdown in the contracting business eco-system. Decrease in Net Profit was also due to reduction in Other Income.
Reclassifications in annual financial results	Comparative figures have been reclassified to comply with the current period presentation of the financial statements, as well as to meet the newly adopted IFRS standards.
Other notes	A- Revenues amounts to SR 4,403.9 million versus SR 4,929.2 million for the same period of last year, a decrease of 10.7%. B- Total Comprehensive Income amounts to SR 106.5 million versus SR 124.5 million for the same period of last year, a decrease of 14.5%. C- Equity attributable to shareholders (after the elimination of Minority Interest) as of 31/12/2017 amounts to SR 1,664.7 million versus SR 1,678.2 million as of 31/12/2016, a decrease of 0.8%.

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