Sustained Infrastructure Holding Co. — Interim / Quarterly Report 2015

Jan 20, 2016

Saudi Industrial Services Co. announces the interim financial results for the period ending on 31-12-2015 (Twelve Months)

2190 · 20/01/2016 16:12:59 · Announcement #40907 · View on Saudi Exchange

Saudi Industrial Services Co. announces the interim financial results for the period ending on 31-12-2015 (Twelve Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	22,027	18,462	19.31	24,791	-
Gross profit (loss)	76,899	73,751	4.27	71,956	6.87
Operational profit (loss)	41,791	39,562	5.63	43,249	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	90,509	78,077	15.92
Gross profit (loss)	304,867	283,624	7.49
Operational profit (loss)	170,437	159,203	7.06
Earning or loss per share, Riyals	1.33	1.15	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The improvement is mainly contributed by better operating results of Ports Development segment and higher net results from associated companies.
Reasons of increase (decrease) for period compared with same period last year	Ports development and logistics & re-export segments improve as compared to last year. The improvement in operating results of Water Desalination segment was off-set by higher provisions for desalination operations in Yemen. In addition, even though other income declined from last year as 2014 included a one-off compensation of SR 5.7 million, the decrease was compensated by improved financial results of associated companies.
Reasons of increase (decrease) for quarter compared with previous quarter	Decrease in operating results is due to of Logistics & Re-export and Industrial Services segments.
Reclassifications in quarterly financial results	Certain comparative figures have been reclassified to conform to the presentation in the current period.

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