Seera Group Holding — Earnings Release 2015

Jul 29, 2015

Altayyar Travel Group announces the interim financial results for the period ending on 30-06-2015 (Six Months)

1810 · 29/07/2015 08:31:04 · Announcement #39380 · View on Saudi Exchange

Altayyar Travel Group announces the interim financial results for the period ending on 30-06-2015 (Six Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	396	364	8.79	286	38.46
Gross profit (loss)	555	476	16.6	441	25.85
Operational profit (loss)	405	375	8	300	35
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	681	644	5.75
Gross profit (loss)	996	840	18.57
Operational profit (loss)	705	641	9.98
Earning or loss per share, Riyals	3.41	3.22	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Gross profit for the current quarter increased by 17% as compared to same quarter last year. This increase is attributed to increase in sales by 21% and reason for increase in sales is attributed to Increase in number of branches around 38 branch inside the Kingdom. Acquisitions made during the mid of 2014 lead to increase in revenue for the current quarter Increase in sales from Airlines GSAs.Increase in net profits of the current quarter compared with the same quarter of the previous year by 9% due to the sales increase by 21% and increased operating income for other 40%
Reasons of increase (decrease) for period compared with same period last year	The reason for increase in net profit for the period compared with the same period of the previous year is sales increased by 20% for the reasons stated in the first paragraph as well as increase in other operating income by 18% compared with the same period of the previous year. Same period previous year included the amount of SR 27 million is a capital gain and the current period include 20 million Saudi Riyals impairment for one of the equity invested company excluding the impact of these transactions increase in net profit for this period compared to the corresponding period of the previous year is about 14%
Reasons of increase (decrease) for quarter compared with previous quarter	Sales increased by 11% and other operating income increased by 126% and decrease in cost of revenue. Operating profit for the quarter has been effected with SR 20 million for impairment los on equity investee Company. Excluding this effect, the rate of growth in operating profit and current-quarter net profit compared with the previous quarter about 42% and 45%, respectively.
Other notes	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 June 2015 of 200 million shares (30 June 2014: 200 million shares).

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