Arriyadh Development Co. — Earnings Release 2019

May 5, 2019

Arriyadh Development Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

4150 · 05/05/2019 08:03:36 · Announcement #54766 · View on Saudi Exchange

Arriyadh Development Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	61.5	71.7	-14.225	106.2	-42.09
Total Profit (Loss)	45.1	54.7	-17.55	75.85	-40.54
Profit (Loss) Operational	42	51.3	-18.128	76.48	-45.083
Net Profit (Loss) after Zakat and Tax	42.8	51.4	-16.731	73.93	-42.107
Total Comprehensive Income	53.9	60.4	-10.761	162.27	-66.783
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after deducting minority equity)	2,119	2,025	4.641
Profit (Loss) per Share	0.32	0.39
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	Decrease of net profit during this quarter is due decrease rental sector revenue with no impact operating sector revenue and improvement other income.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter	The decrease in net profit for the current quarter is due to the recording of the revenues of some contracts for the whole of 2018 during the previous quarter, in accordance with International Financial Reporting Standard No. 15.
Type of the external auditor's opinion	Unmodified opinion
External auditor's report containing reservation	None.
Reclassifications in quarter financial result	Reclassification of comparative figures compatible with the display tab for the current period has been done.
Additional Information	The Company has adopted the international financial reporting (IFRS) effective 1 january 2017.

Effective January 1, 2018, the Company adopted IFRS 9( Financial Instruments )and IFRS 15 Revenue from Contracts)) Reclassification of certain financial investments and adjustments to revenues in line with the concept of the client gaining control of the service.

Effective January 1, 2019, the Company adopted IFRS16(Leases).

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