Arriyadh Development Co. — Earnings Release 2018

Feb 24, 2019

Arriyadh Development Co. announces its Annual financial results for the period ending on 2018-12-31

4150 · 24/02/2019 08:55:32 · Announcement #53544 · View on Saudi Exchange

Arriyadh Development Co. announces its Annual financial results for the period ending on 2018-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	283	314	-9.872
Total Profit (Loss)	215.35	247.84	-13.109
Profit (Loss) Operational	205.58	235.14	-12.571
Net Profit (Loss) after Zakat and Tax	203.93	222.34	-8.28
Total Comprehensive Income	280.17	247.24	13.319
Total Share Holders Equity (after deducting minority equity)	2,068	1,965	5.241
Profit (Loss) per Share	1.53	1.67
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current year compared to last year	Decrease of net profit during this period is due to the non-sale of lands , decrease of operating sector revenues and other income despite the growth of revenues of the leasing and the absence of financing costs compared to the same period of the previous year.
Type of the external auditor's opinion	Unmodified opinion
External auditor's report containing reservation	None.
Reclassifications in annual financial results	It has been reclassification comparative figures compatible with the display tab for the current period.
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 , note 6 to the financial statements shows the effect of these adjustments on the financial statements as at 31 December 2017, 1 January 2017.

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