Seera Group Holding — Earnings Release 2014

Oct 23, 2014

ALTAYYAR TRAVEL GROUP HOLDING announces the interim financial results for the period ending on 30-09-2014 (Nine Months)

1810 · 23/10/2014 08:07:02 · Announcement #35861 · View on Saudi Exchange

ALTAYYAR TRAVEL GROUP HOLDING announces the interim financial results for the period ending on 30-09-2014 (Nine Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	244	215	13.49	364	-
Gross profit (loss)	373	298	25.17	476	-
Operational profit (loss)	257	225	14.22	375	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	887	769	15.34
Gross profit (loss)	1,213	1,003	20.94
Operational profit (loss)	898	775	15.87
Earning or loss per share, Riyals	5.92	5.13	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The increase in current quarter as compared to the same quarter in previous year is attributed to growth in sales by 22%.
Reasons of increase (decrease) for period compared with same period last year	The main reason for increase in current period as compared to the same period last year is attributed to growth in sales by 18% .
Reasons of increase (decrease) for quarter compared with previous quarter	The decrease during the third period compared to the second period from the current fiscal year is attributed seasonal mode of the business activity during this period which represents the same period of decrease between the third and second quarter from the previous fiscal year
Other notes	1-We have restated the net income of the prior period by 34.3 million Saudi Riyals resulting from the negative goodwill on the purchase price of assets and liabilities of Muthmera Real Estate Investment Company. Purchase price is allocated to assets and liabilities of Muthmera. Without the impact of this negative goodwill the growth in the net income as compared to same period last year is 21%. 2- Earnings, loss per share from operating income, other income, expense and net income for the current and comparative period has been calculated by using the number of ordinary shares outstanding as at 30 September 2014 of 150 million shares (150 million shares 30 September 2013 adjusted for bonus share issued on 20 March 2014 .(see note 11)

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