Arriyadh Development Co. — Interim / Quarterly Report 2018

Jul 15, 2018

Arriyadh Development Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)

4150 · 15/07/2018 08:46:20 · Announcement #51431 · View on Saudi Exchange

Arriyadh Development Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	44.6	46	-	43.5	2.53
Gross profit (loss)	48.3	54.3	-	46.6	3.65
Operational profit (loss)	44.5	50.8	-	43.4	2.53
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	88.1	89.2	-
Gross profit (loss)	94.9	105.4	-
Operational profit (loss)	87.9	98.6	-
Earning or loss per share, Riyals	0.66	0.67	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Decrease of net profit during this quarter is due to decrease of operating sector .
Reasons of increase (decrease) for period compared with same period last year	Decrease of net profit during this quarter is due to decrease of operating sector .
Reasons of increase (decrease) for quarter compared with previous quarter	Increase of net profit during this quarter is due increase operating sector revenue.
Reclassifications in quarterly financial results	Reclassification of comparative figures compatible with the display tab for the current period has been done.
Other notes	Revenue for the quarter ended jun. 30 2018 which is 60.92 million riyals decrease by 9% compared to sales revenues for the same quarter of the last year which was 67,11 million riyals. Revenue for the period ended jun 30 2018 which is 119.62 million riyals decrease by 8% compared to sales revenues for the same period of the last year which was 130.39 million riyals , this is due to a decrease operating revenues. Total comprehensive income for the quarter ended 30 jun 2018 was 46.16 million riyals, a increase of 36% compared to a total of 33.90 million riyals and decrease 12% compared to last quarter which was 52.6 million riyals. Total comprehensive income for the period ended jun 30 2018 98.74 million riyals increase by 29% compared to total of 76.57 million riyals for the same period last year.this is due to increase the fair value of investments Total shareholders' equity(there are no minority rights) as of 30 jun 2018 is 1,943 million riyals compared to shareholders' equity of 1,955 million riyals as of 31 december 2017, an decrease of 0.6%. The external auditors have reviewed the financial statement and their conclusion. The Company has adopted the international financial reporting (IFRS) effective 1 january 2017. The Company has adopted International Standards No. (9) and (15) as of 1 January 2018

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