|Reasons of increase (decrease) for quarter compared with same quarter last year
||The reason for the loss is due to:1-Decrease in revenue by 39% (SAR 131.6 million) mainly due to extended slowdown in the construction sector, slow progress on the ongoing projects, decline in new project awards, and much slower than usual collection from majority of clients.2-Decrease in Gross profit by 358.8% (SAR 49.2 million) mainly due to decline in revenue and upward revision of cost to complete for various construction projects. 3-Increase in Zakat expense by SAR 0.45 million.The above was favorably counteracted by:1-Decrease in direct costs by 26% (SAR 82.4 million) mainly due to reduction in manpower and depreciation costs.2-Decrease in selling and marketing costs by 58% (SAR 2.4 million).3-Decrease in G&A by 46% (SAR 8.6 million) mainly due to the savings in manpower costs and resource optimization, resulting from previously announced Leaner Al-Khodari Program. Cost-reduction program is progressing as scheduled and this is evident of significant cost savings in 2016.4-Increase in other income by 68% (SAR 4.6 million) mainly due to the partial refund receipts of the government compensation for the increased 2400 expat levy in this quarter which was absent in the same quarter last year.5-Decrease in financial charges by 4% (SAR:0.52 million).
|Reasons of increase (decrease) for period compared with same period last year
||The reason for the loss is due to:1-Decrease in revenue by 30% (SAR 355.3 million).2-Decrease in Gross profit by 145% (SAR 150.1 million).3-Increase in financial charges by 2% (SAR 0.74 million).4-Increase in Zakat expense by 34% (SAR 0.77 million).The above was counteracted by:1-Decrease in direct costs by 19% (SAR 205.2 million). 2-Decrease in selling and marketing costs by 61% (SAR 7.7 million).3-Decrease in G&A by 34% (SAR 17.8 million).4-Increase in other income by 14% (SAR 4.5 million).
|Reasons of increase (decrease) for quarter compared with previous quarter
||The reason for the loss is due to:1-Decrease in revenue by 18.9% (SAR 47.6 million).2-Increase in Gross loss by 11.5% (SAR 3.7 million).3-Increase in selling & marketing expense by 49% (SAR 0.57 million).4-Decrease in other income by 22.8% (SAR 3.3 million).The above was counteracted by:1-Decrease in direct costs by 15.5% (SAR 43.9 million).2-Decrease in G&A by 9.8% (SAR 1.1 million).3-Decrease in zakat expense by 82% (SAR 2.05 million).
||1-Gross revenue of the current quarter is SAR 204.9 million compared to SR. 336.6million for the similar quarter of the previous year with a decrease of 39%.2-Gross Sales Revenue of the period is SAR 829.2 million compared to SAR. 1,184.5 million for the similar period of the previous year with a decrease of 30%.3-The shareholders equity (No minority interests) till the end of the period is SAR. 801.2 million compared to SAR. 891.8 million for the similar period of the previous year with a decrease of 10%.4-New awards for the third quarter of 2016 were SAR 78.4 million compared to SAR 31 million during the same quarter last year. The contract backlog is SAR 3,008.4 million at the end of third quarter 2016 compared to SAR 4,665.4 million for the same quarter of the previous year.5-Earning per Share for the similar period of the previous year has been restated due to the recalculation of the Earning per Share based on the current number of shares of 55,781,250 shares that has been increased according to the resolution of the Extra General Assembly held on 28 June 2016.