Sinad Holding Co. — Interim / Quarterly Report 2017

May 9, 2017

Aseer Trading, Tourism and Manufacturing Co. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

4080 · 09/05/2017 15:34:07 · Announcement #46867 · View on Saudi Exchange

Aseer Trading, Tourism and Manufacturing Co. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	20.7	-	-	-	-
Gross profit (loss)	168.9	130.2	29.72	97	74.12
Operational profit (loss)	52.8	-	-	-	-
Earning or loss per share, Riyals	0.16	-	-	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The net profit is due to increase in gross income and income from operations resulting mainly from generating profits from investments, decrease in sales and distribution expenses and general and administrative expenses, in addition to generation of other revenues.
Reasons of increase (decrease) for quarter compared with previous quarter	The net profit is due to increase in gross income and income from operations resulting mainly from generating profits from investments, decrease in sales and distribution expenses and general and administrative expenses, in addition to generation of other revenues.
Other notes	1- Revenue from sales amounted to SR 457.6 million during the quarter compared to SR 555.7 million for the same quarter of the previous year representing a decrease of 17.7%. 2- The comprehensive income attributable to the shareholders of the company amounted to SR 7.3 million, compared to SR 3.1 million for the same quarter of the previous year representing an increase of 135.5%, and SR 58.5 million for the previous quarter representing a decrease of 87.5%. 3- Shareholders equity excluding non-controlling interest, amounted to SR 2350.4 million for the current period, compared to SR 2,343.0 million as of December 31, 2016 representing an increase of 0.3%, and SR 2,509.7 million for the same period of the previous year representing a decrease of 6.3%. 4- The comparative figures have been reclassified to conform to the international financial reporting standards as the company has applied international financial reporting standards from January 1, 2017. Accordingly some changes have been made to the financial statements of the company on a number of items related to the measurement, recognition, presentation and disclosure method for the current period and the comparative period in compliance with the accounting policies adopted as per the requirements of the international financial reporting standards as adopted in the Kingdom of Saudi Arabia. Additional details can be found in disclosure 4.2 (First-time Adoption of International Financial Reporting Standards) in the accompanying disclosures to the preliminary condensed consolidated financial statements for the period ended March 31, 2017.

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