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Interim financial results for the period ending on 31-03-2016

Fri Nov 20 19:03:33 AST 2020

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 28.1 33.83 -16.94 37.91 -25.88
Gross profit (loss) 60.08 66.55 -9.72 68.22 -11.93
Operational profit (loss) 31.23 36.28 -13.92 36.35 -14.09
Earning or loss per share, Riyals 1.17 1.41 - - -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Decline in net profit is due to: 1. The decrease of 2.02% in sales compared with the same quarter of the previous year due to this period was affected positively with the Bonus distributed by the Custodian of the Two Holy Mosques and the relative increase in the showrooms operating costs. 2. the company has taken precautionary actions to rationalize spending leading to lower general expenses. 3. The increase in bank charges.
Reasons of increase (decrease) for quarter compared with previous quarter Decline in net profit is due to: 1. the seasonality of demand leading to sales decrease. 2. the company has taken precautionary actions to rationalize spending leading to lower general expenses. 3. The last quarter was positively affected by the final settlement of the insurance claim related to a fire incident in Takhassoussi Store.
Reclassifications in quarterly financial results comparative period figures has been reclassified to conform with current period classification numbers.
Other notes The sales during the current quarter of the year amounted to SAR 303.2 Million compared to SAR 309.4 million for the same quarter of the last year at a decrease of 2.02%.