Arriyadh Development Co. — Interim / Quarterly Report 2020

Apr 20, 2020

Arriyadh Development Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

4150 · 20/04/2020 08:45:53 · Announcement #58586 · View on Saudi Exchange

Arriyadh Development Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	57	61.5	-7.317	62.7	-9.09
Gross Profit (Loss)	40.3	45.1	-10.643	47.4	-14.978
Operational Profit (Loss)	35.4	42	-15.714	32.7	8.256
Net Profit (Loss) after Zakat and Tax	35.1	42.8	-17.99	32	9.687
Total Comprehensive Income	29.2	53.9	-45.825	-77.1	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	1,978	1,949	1.487
Profit (Loss) per Share	0.2	0.24
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	Reduced operating sector revenues due to decisions issued by the competent authorities within the precautionary measures and measures to limit the spread of the Corona virus.

the increase in general and administrative expenses in implementation of IFRS No. 9 by establishing a provision for doubtful debts.Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason for the increase in net profit for the current quarter is due to the decrease in general and administrative expenses, in spite of decrease in operating sector revenues resulting from precautionary measures and measures to limit the spread of the Corona virus.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 Effective January 1, 2019, the Company adopted IFRS 16(Leases ).

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.

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