Arriyadh Development Co. — Interim / Quarterly Report 2017

Oct 25, 2017

Arriyadh Development Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

4150 · 25/10/2017 15:39:36 · Announcement #48317 · View on Saudi Exchange

Arriyadh Development Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	45.6	37.1	22.91	45.3	0.66
Gross profit (loss)	47.7	46.1	3.47	54.3	-
Operational profit (loss)	45	42.2	6.63	50.8	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	134.3	225	-
Gross profit (loss)	153.1	244	-
Operational profit (loss)	143.6	231.3	-
Earning or loss per share, Riyals	1	1.68	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Due to increase of net profit to improved operating revenues and growth in other revenues with a decrease in general expenses during this quarter.
Reasons of increase (decrease) for period compared with same period last year	Due to decrease of net profit for their participation in the real estate fund fully its share of land located in the northeast of the city of riyadh with the alinma Investment Company.
Reasons of increase (decrease) for quarter compared with previous quarter	Due to increase in net profit to the growth of other revenues during the quarter .
Reclassifications in quarterly financial results	It has been reclassification comparative figures compatible with the display tab for the current period.
Other notes	Revenue for the quarter ended sep. 30, amounted to 2017 million riyals 60.19 increase equivalent to 2% compared to sales revenues for the same quarter of the year Past, which totaled 59,17 million riyals.Revenue for the period ended sep. 30, amounted to 2017 million riyals 190.58 decrease equivalent to 84% compared to sales revenue for the same period of the year past, which totaled 1.171 million riyals,The reason For their participation in the real estate fund fully its share of land located in the northeast of the city of riyadh with the alinma Investment Company. Total comprehensive income for the quarter ended 30 sep. 2017 was SAR 60.6 million, a increase of 87% compared a total of SR 32.4 million for the same quarter last year and a incresse 79% compared a total of 33.9 million for the perivious quarter.. Total comprehensive income for the period ended 30 sep. 2017 was SAR137.1 million, a decrease of 36% compared a total of SR 215.7 million for the same period last year. The reason For their participation in the real estate fund fully its share of land located in the northeast of the city of riyadh with the alinma Investment Company. Total shareholders' equity(there are no minority rights) as at 30 sep. 2017 1,854 million riyals compared to shareholders' equity of 1,895 million as at 31 december 2016, an deccrease of 2%. the company has adopted the international financial reporting (IFRS) effective 1 january 2017 accordingly certain changes have been made in financial statements of the compny in the measurement,persentation and disclosure method for the current and comparative periods in accordance with the accounting policies adopted and in accordance with the requirements of international financial reporting standards adopted in the kingdom of saudi arabia.

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