Arriyadh Development Co. — Interim / Quarterly Report 2017

Jul 12, 2017

Arriyadh Development Co. announces the interim financial results for the period ending on 30-06-2017 (Six Months)

4150 · 12/07/2017 17:00:49 · Announcement #47512 · View on Saudi Exchange

Arriyadh Development Co. announces the interim financial results for the period ending on 30-06-2017 (Six Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	45.3	132.8	-	43.4	4.38
Gross profit (loss)	54.3	139.9	-	51	6.47
Operational profit (loss)	50.8	135.3	-	48	5.83
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	88.7	186.9	-
Gross profit (loss)	105.4	197.9	-
Operational profit (loss)	98.6	189.1	-
Earning or loss per share, Riyals	0.67	1.4	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Due to decrease of Net profit to 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 during the same quarter of the previous year.
Reasons of increase (decrease) for period compared with same period last year	Due to decrease of Net profit to 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 during the same period of the previous year.
Reasons of increase (decrease) for quarter compared with previous quarter	Due to increase of net profit to improvement in preformance of sector of operating during the current quarter compared to previous 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 jun 30, amounted to 2017 million riyals 67.11 decrease equivalent to 93% compared to sales revenues for the same quarter of the year Past, which totaled 1,038 million riyals..revenue for the period ended jun 30, amounted to 2017 million riyals 130.39 decrease equivalent to 88% compared to sales revenue for the same period of the year past, which totaled 1,112 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 jun 2017 was SAR33.9 million, a decrease of 75% compared a total of SR 133.6 million for the same quarter last yearTotal comprehensive income for the period ended 30 jun 2017 was SAR 76.6 million, a decrease of 58% compared a total of SR 183.3 million for the same period last yearThe 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 jun 2017 1,861 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,presentation 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.

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.