Arriyadh Development Co. — Interim / Quarterly Report 2021

Oct 21, 2021

Arriyadh Development Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

4150 · 21/10/2021 08:45:57 · Announcement #65231 · View on Saudi Exchange

Arriyadh Development Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	61.9	59.7	3.685	63	-1.746
Gross Profit (Loss)	41.5	43.6	-4.816	45.07	-7.921
Operational Profit (Loss)	33.4	39.46	-15.357	38.3	-12.793
Net Profit (Loss) after Zakat and Tax	70.8	55.1	28.493	143.41	-50.631
Total Comprehensive Income	77.1	59.3	30.016	148.87	-48.209
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	188.1	174.2	7.979
Gross Profit (Loss)	132.8	125.1	6.155
Operational Profit (Loss)	113.6	112.5	0.977
Net Profit (Loss) after Zakat and Tax	325.2	144.8	124.585
Total Comprehensive Income	343.8	145.6	136.126
Total Share Holders Equity (after Deducting Minority Equity)	2,032	2,002	1.498
Profit (Loss) per Share	1.83	0.81
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The increase in the revenues of the operating and leasing sectors and the company’s profits from the results of the associate company’s business, despite the increase in general and administrative expenses.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	Decrease in the company's profit share from the associate company's business results due to the decrease in land sales this quarter compared to the previous quarter.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The increase in the revenues of the operating and leasing sectors and the company’s profits from the results of the associate company’s business,despite the increase in general and administrative expenses.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification 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 )

Sales revenues for the period ended sep. 30, 2021, amounted to188 million riyals, an increase of 8% compared to sales revenues for the same period of last year which amounted to 174,19 million riyals.

The company's profits from the associate's business results amounted to 213,66 million riyals for the period ending on sep. 30, 2021.an increase of 531% compared to profit for the same period of last year which amounted to 33,87 million riyals.

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