Arriyadh Development Co. announces the interim financial results for the period ending on 31-03-2018 (Three Months)
|Element||Current quarter||Similar quarter for previous year||% Change current||Previous quarter||% Change previous|
|Net profit (loss)||43.5||43.3||0.46||75.8||-42.61|
|Gross profit (loss)||46.6||51||-8.63||84.9||-45.11|
|Operational profit (loss)||43.4||48||-9.58||81.7||-46.88|
|Earning or loss per share, Riyals||0.33||0.32||-||-||-|
|All figures are in (Millions) Saudi Arabia, Riyals|
|Reasons of increase (decrease) for quarter compared with same quarter last year||Increase of net profit during this quarter is due to decrease of financing costs and improvement in proformance of leasing sector.|
|Reasons of increase (decrease) for quarter compared with previous quarter||Decrease of net profit is due to not selling lands during this quarter .|
|Reclassifications in quarterly financial results||Reclassification of comparative figures compatible with the display tab for the current period has been done.|
|Other notes||Revenue for the quarter ended march. 31 2018 which is 58.71 million riyals decrease by 7% compared to sales revenues for the same quarter of the last year which was 63,27 million riyals.
Total comprehensive income for the quarter ended 31 march 2018 was 52.60 million riyals, a increase of 23% compared to a total of 42.70 million riyals for the same quarter last year and a decrese 48% compared to a total of 100.22 million riyals for the perivious quarter.
Total shareholders' equity(there are no minority rights) as of 31march 2018 is 2,007 million riyals compared to shareholders' equity of 1,955 million riyals as of 31 december 2017, an increase of 3%.
The Company has adopted the international financial reporting (IFRS) effective 1 january 2017.
The Company has adopted International Standards No. (9) and (15) as of 1 January 2018.
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.