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Arriyadh Development Co. announces its interim Financial results for the period ending on 2019-06-30 ( Six Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 64.374.37-13.5461.54.552
Total Profit (Loss) 47.6356.79-16.12945.15.609
Profit (Loss) Operational 44.5253-15.999426
Net Profit (Loss) after Zakat and Tax 50.0453.12-5.79842.816.915
Total Comprehensive Income 48.5754.67-11.15753.9-9.888
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 125.82146.1-13.88
Total Profit (Loss) 92.73111.45-16.796
Profit (Loss) Operational 86.47104.47-17.229
Net Profit (Loss) after Zakat and Tax 92.88104.73-11.314
Total Comprehensive Income 102.5115.33-11.124
Total Share Holders Equity (after deducting minority equity) 2,0572,068-0.531
Profit (Loss) per Share 0.630.71
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The decrease in net profit for the quarter is due to lower rental income with no impact on the operating sector, lower general and administrative expenses, Zakat and a growth in other income.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The inecrease in net profit for the current quarter is due to improved operating and leasing sectors and a growth in other income
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The decrease in net profit for the Period is due to lower rental income with no impact on the operating sector, lower general and administrative expenses, Zakat and a growth in other income.
Type of the external auditor's opinion Unmodified opinion
External auditor's report containing reservation None.
Reclassifications in quarter financial result Reclassification of comparative figures compatible with the display tab for the current period has been done.
Additional Information The Company has adopted the international financial reporting (IFRS) effective 1 january 2017.

Effective January 1, 2018, the Company adopted IFRS 9( Financial Instruments )and IFRS 15 Revenue from Contracts)) Reclassification of certain financial investments and adjustments to revenues in line with the concept of the client gaining control of the service.

Effective January 1, 2019, the Company adopted IFRS16(Leases).

Re-calculate earnings per share as of 30/06/2019 AD to reflect the increase in the share capital From 133.333.333 shares To 177.777.777 shares,

Which was approved at the extraordinary general assembly meeting on 27/08/1440 H corresponding to 02/05/2019 AD.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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