Sustained Infrastructure Holding Co. — Interim / Quarterly Report 2015

Oct 21, 2015

Saudi Industrial Services Co. announces the interim financial results for the period ending on 30-09-2015 (Nine Months)

2190 · 21/10/2015 15:32:52 · Announcement #40068 · View on Saudi Exchange

Saudi Industrial Services Co. announces the interim financial results for the period ending on 30-09-2015 (Nine Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	24,791	25,526	-	25,224	-
Gross profit (loss)	71,956	86,419	-	83,360	-
Operational profit (loss)	43,249	51,433	-	50,432	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	68,482	59,615	14.87
Gross profit (loss)	230,268	214,609	7.3
Operational profit (loss)	129,614	119,476	8.49
Earning or loss per share, Riyals	1.01	0.88	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The decrease in revenue is mainly from Port Operations, where it is lower by about SAR 3 million, whereas costs of sales continue to increase. Company has initiated some controls of G&A and Selling expenses, where as other expenses remain in line with last year. The results of associated companies have significantly improved with a Net change of SAR 5 million.
Reasons of increase (decrease) for period compared with same period last year	All segments have shown better results this year than last year. However, due to higher than proportionate increase in costs, the Gross Margin and Operating Margin is slightly lower. This has been off-set by better performance of associated companies that is why Net Margin has also improved from last year.
Reasons of increase (decrease) for quarter compared with previous quarter	The decrease in revenue is mainly from the Port Operations business where Net revenue is lower by SAR 10 million. Decrease in revenue of Logistics Park was off-set by increase in revenue in Water Desalination business. There were some savings in G&A and Selling Costs.
Reclassifications in quarterly financial results	Certain comparative figures have been reclassified to conform to the presentation in the current period.

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