Sustained Infrastructure Holding Co. — Interim / Quarterly Report 2016

Apr 20, 2016

Saudi Industrial Services Co. announces the interim financial results for the period ending on 31-03-2016 (Three Months)

2190 · 20/04/2016 08:30:33 · Announcement #42229 · View on Saudi Exchange

Saudi Industrial Services Co. announces the interim financial results for the period ending on 31-03-2016 (Three Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	24,492	18,467	32.63	22,027	11.19
Gross profit (loss)	77,895	74,162	5.03	76,899	1.3
Operational profit (loss)	42,328	35,590	18.93	41,791	1.28
Earning or loss per share, Riyals	0.36	0.27	-	-	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The net result is higher mainly due to better performance of water segment and results from associated companies. In water segment, other income is higher as the group received additional SR 2.5 million as final settlement of a claim from 2013. Also, Q1-2015 had included a provision for operations in Yemen, which is not there in Q1-2016. Results of other segments were similar to same quarter last year.
Reasons of increase (decrease) for quarter compared with previous quarter	The net result is higher mainly due to better performance of logistics segment and results from associated companies. In water segment, other income is higher as the group received remaining portion of the SR 2.5 million as final settlement but due to increase in operational costs the net result from this segment has only increased by 10%. Result of logistics segment has improved due to higher demand for short-term rentals of open yards.
Reclassifications in quarterly financial results	Certain comparative figures have been reclassified to conform to the presentation in the current period.

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