AnnouncementDetails

Actions

Maharah Human Resources Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 372.88327.3813.898343.938.417
Total Profit (Loss) 80.9862.7329.09275.117.815
Profit (Loss) Operational 54.584326.9340.6234.367
Net Profit (Loss) after Zakat and Tax 54.0248.0212.49447.2914.231
Total Comprehensive Income 51.751.7-46.6210.896
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after deducting minority equity) 482.21315.9652.617
Profit (Loss) per Share 1.441.28
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 Consolidated net income increased by 12.5% compared with the same quarter of the previous year, mainly due to:

• Increase in revenue by 13.9% lead by growth in corporate sector by 16.2% and Individual sector by 8.3% mainly due to the Khidmah program.

• Gross profit increased by 29.1% compared with the same quarter of the previous year.

• Despite an increase in the bad debt provision expense by SAR 6M and a decline in the other income resulted from reversal of provisions during the same quarter of the previous year amounting of SAR 6.8 M.

Reason for increase (decrease) in net profit for current quarter compared to the previous quarter Consolidated net income increased by 14.2% compared with the previous quarter, mainly due to:

• Increase in revenue by 8.4% lead by the continued growth in corporate sector by 11% and Individual sector by 5% mainly due to growth in the Khidmah program.

• Gross profit increase by 7.8% compared with the previous quarter.

• Bad debt provision expense decreased by SAR 4.8 M compared with the previous quarter due to enhance the collection from corporate customers.

Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Certain prior period's figures have been reclassified to conform to the current period presentation.
Additional Information • The Company adopted IFRS 16 during the period. Impact of adoption of IFRS 16 is presented in note 4.

• The company has been listed in the Saudi stock market in 2019-06-18

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.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
97.5 -0.9 (-0.91%)
Value Traded (SAR) Volume Traded
37,567,758.8 383,406

RelatedAnnouncementPortlet

Actions

Related Announcements