Arriyadh Development Co. — Interim / Quarterly Report 2020

Jul 22, 2020

Arriyadh Development Co. announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )

4150 · 22/07/2020 15:27:46 · Announcement #59792 · View on Saudi Exchange

Arriyadh Development Co. announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	57.41	64.3	-10.715	57	0.719
Gross Profit (Loss)	41.22	47.63	-13.457	40.3	2.282
Operational Profit (Loss)	37.62	44.52	-15.498	35.4	6.271
Net Profit (Loss) after Zakat and Tax	54.56	50.04	9.032	35.1	55.441
Total Comprehensive Income	57.1	48.57	17.562	29.2	95.547
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	114.45	125.82	-9.036
Gross Profit (Loss)	81.5	92.73	-12.11
Operational Profit (Loss)	73	86.47	-15.577
Net Profit (Loss) after Zakat and Tax	89.7	92.88	-3.423
Total Comprehensive Income	86.28	102.5	-15.824
Total Share Holders Equity (after Deducting Minority Equity)	1,943	1,949	-0.307
Profit (Loss) per Share	0.5	0.52
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	In spait of the company's operating revenue decreased during this quarter as a result of the closure of two its markets and centers operating are the public transportation center and auto auction due to decisions issued by the competent authorities within the precautionary measures and measures to limit the spread of the Corona virus, However, the company's share of the profits made from investing in the associate was the main reason for the increase in profits for this quarter compared to the same quarter of the previous year.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	Realized profits from investing in an associate.

Decrease in general and administrative expenses during this quarter compared to the previous quarter.Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to In spite of the high share of the company from the results of the business of the associate, positions the decrease in the operating revenues of the company during this period is due to the closure of two its markets and centers operating are the public transportation center and auto auction due to decisions issued by the competent authorities within the precautionary measures and measures to limit the spread of the Corona virus,Almost three months had an impact on the decline in profits for the current period compared to the same period in the previous year.

The increase in general and administrative expenses in implementation of IFRS No. 9 by establishing.

Decrease in other income compared to the same period in the previous year.Basis of the External Auditor's Opinion Unmodified opinionReclassification of Comparison Items It has been reclassification comparative figures compatible with the display tab for the current period.Additional Information The capital was increased from 1,333,333,330 riyals to 1,777,777,770 riyals, and the earnings per share were calculated for the current period and the comparison period to reflect the increase in the company capital from 133,333,333 shares to 177,777,777 shares by bonus shares based on the decision of the Extraordinary General Assembly on 02/05/2019.

The decrease in operating revenues of the company was the result of the closure of two of its operational centers, which are the public transportation center and auto auction due to the decisions issued by the competent authorities within the precautionary measures and measures to limit the spread of the Corona virus.

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.