Arriyadh Development Co. — Interim / Quarterly Report 2017

Apr 30, 2017

Arriyadh Development Co. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

4150 · 30/04/2017 15:56:12 · Announcement #46694 · View on Saudi Exchange

Arriyadh Development Co. 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)	43.4	54.1	-	37.7	15.12
Gross profit (loss)	51	58	-	53.63	-
Operational profit (loss)	48	53.8	-	47	2.13
Earning or loss per share, Riyals	0.33	0.41	-	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Due to growth of sale of lands in the same quarter of the previous year.
Reasons of increase (decrease) for quarter compared with previous quarter	Due to improvement in preformance of sectors of leasing and 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 march 31, amounted to 2017 million riyals 63.17 decrease equivalent to 13% compared to sales revenues for the same quarter of the year Past, which totaled 73.13 million riyals.Total shareholders' equity(there are no minority rights) as at 31 march 2017 1,937 million riyals compared to shareholders' equity of 1,895 million as at 31 december 2016, an increase of 2.2%. Total comprehensive income for the quarter ended 31 March 2017 was SAR 42.7 million, a decrease of 14% compared a total of SR 49.6 million for the same quarter last year. 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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