Al Hammadi Holding — Earnings Release 2015

Feb 24, 2016

Al Hammadi Company for Development and Investment announces the annual financial results for the period ending on 31-12-2015

4007 · 24/02/2016 08:00:26 · Announcement #41360 · View on Saudi Exchange

Al Hammadi Company for Development and Investment announces the annual financial results for the period ending on 31-12-2015

Element	Current year	Previous year	% Change
Net profit (loss)	141.33	128.95	9.6
Earning or loss per share, Riyals	1.18	1.07	-
Gross profit (loss)	246.38	209.11	17.82
Operational profit (loss)	153.37	130.94	17.13

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

Element	EXPLAINATION
Reasons of annual financial results	The increase in gross profit, operating income and net income is due to the increase in net revenue by 17% as a result of enhancement of the contractual terms with the company's customers, offering new services to the patients and the increase in the inpatients nights, in addition to the commencement of the commercial run of Al-Hammadi Al-Sweidi hospital on 01-08-2015. Additionally, the Company collected an amount of SR 9.8 million written off debt during Q1 of the current period which was credited to the general and administrative expenses within the income statement.
Reclassifications in annual financial results	Certain comparative figures for the last year were reclassified to conform to the overall presentation of the current year figures.
Other notes	According to SOCPA, the earnings per share for the current periods and the presented comparative periods were calculated on the basis of the new number of shares of the company (120 million shares) post the increase in capital approved by the Extraordinary General Assembly (EGM) of the company on 15-04-2015.

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