Sustained Infrastructure Holding Co. — Interim / Quarterly Report 2014

Oct 29, 2014

Saudi Industrial Services Co. announces the interim financial results for the period ending on 30-09-2014 (Nine Months)

2190 · 29/10/2014 15:48:37 · Announcement #36015 · View on Saudi Exchange

Saudi Industrial Services Co. 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)	25,526	11,243	127.04	21,721	17.52
Gross profit (loss)	86,419	62,639	37.96	71,874	20.24
Operational profit (loss)	51,433	31,195	64.88	40,994	25.46
All figures are in (Thousands) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	59,615	44,276	34.64
Gross profit (loss)	214,609	200,323	7.13
Operational profit (loss)	119,476	110,013	8.6
Earning or loss per share, Riyals	0.88	0.65	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Main contribution to improvement in operating results was storage and re-export business. Water desalination and distribution is also better as last year the operations had stopped for approximately 50 days due to fire in the neighboring sugar factory.
Reasons of increase (decrease) for period compared with same period last year	Increase in operating results is mainly from storage and re-export business, compensation of SAR 5.7 million for old claims and better results from other investments.
Reasons of increase (decrease) for quarter compared with previous quarter	Due to improvement in operating results and performance of the most of subsidiaries especially storage and re-export business, Port development business and Sea water desalination and distribution.
Reclassifications in quarterly financial results	Certain comparative figures have been regrouped/reclassified to conform to the presentation in the current period. Furthermore, the comparative interim consolidated statement of income has been re-presented as if an operation that was discontinued during the current year had been discontinued from the beginning of the comparative year

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