Alujain Corp. — Interim / Quarterly Report 2017

May 11, 2017

Alujain Corp. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

2170 · 11/05/2017 17:27:02 · Announcement #47029 · View on Saudi Exchange

Alujain Corp. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	28.85	2.76	945.29	36.18	-
Gross profit (loss)	98.8	51.56	91.62	111.43	-
Operational profit (loss)	69.17	26.47	161.31	81	-
Earning or loss per share, Riyals	0.42	0.04	-	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The increase in net profit is mainly attributable to sales quantities and better gross margins, i.e., higher selling prices and lower feedstock prices as compared to the same quarter of last year.
Reasons of increase (decrease) for quarter compared with previous quarter	The decrease in net profit during Q1, 2017 as compared to Q4, 2016 is mainly due to lower sales quantities although the contribution margin remains same during both the quarters.
Reclassifications in quarterly financial results	The company applied the international financial reporting standards starting 01 January 2017, therefore the company restated the comparative financial statements to reflect the changes in measurements, disclosure and accounting policy to comply with IFRS requirements and the other standards and requirements approved by Saudi Organization for Certified Public Accountants (SOCPA). For more details refer to note No. 6 in the company's financials (application of IFRS for the first time adopters) attached to the financials for the period ended on 31 March 2017.
Other notes	1. The sales revenue for quarter ended March 31, 2017 amounted to SR397.80 million as compared to SR305.60 million during same quarter of last year, an increase of 30.17%. 2. Total comprehensive income for the current quarter attributable to Shareholders' Equity amounted to SR28.39 million compared to SR1.93 million for the same quarter last year, an increase of 1,370.98% and SR36.42 million for previous quarter with an increase of 28.28%. 3. The Net Shareholders' Equity (excluding minority interest) as at March 31, 2017 is SR 1,187.72 million as compared to SR 1,040.18 million as at March 31, 2016, showing an increase of 14.18%.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.