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Zamil Industrial Investment Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) -39,768 36,453 - 15,568 -
Gross profit (loss) 143,212 237,425 -39.68 190,053 -24.65
Operational profit (loss) -7,015 65,166 - 43,315 -
All figures are in (Thousands) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) -24,200 78,230 -
Gross profit (loss) 333,265 443,607 -24.87
Operational profit (loss) 36,300 129,473 -71.96
Earning or loss per share, Riyals -0.4 1.3 -
All figures are in (Thousands) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net loss for the quarter is due to reduction in gross profit margins in AC and Steel Sector as a result of lower domestic revenues, increase in input costs, and pressure on selling prices due to severe competition. Net loss is also due to higher financial charges, loss due to discontinued operations and reduction in other income and income from associate investments.
Reasons of increase (decrease) for period compared with same period last year Net loss for the period is due to reduction in gross profit margins in AC and Steel Sector as a result of lower domestic revenues, increase in input costs, and pressure on selling prices due to severe competition. Net loss is also due to loss on discontinued operations and reduction in other income and income from associate investments.
Reasons of increase (decrease) for quarter compared with previous quarter Net loss for the period is due to reduction in gross profit margins in AC and Steel Sector as a result of lower domestic revenues, increase in input costs, and pressure on selling prices due to severe competition. Net loss is also due to higher financial charges, zakat and taxes, loss due to discontinued operations and reduction in other income.
Reclassifications in quarterly financial results Comparative figures have been reclassified to conform with the presentation in the current period.
Other notes A- Revenues during the current quarter amounts to SR 1,060.9 million versus SR 1,125.4 million for the same quarter of last year, a decrease of 5.7%. B- Revenues during the first six months of current year amounts to SR 2,030.9 million versus SR 2,123.4 million for the same period of last year. A decrease of 4.4%. C- Total comprehensive loss during the quarter amounts to SR. 47.7 million compared to comprehensive income of SR. 37.2 million for the similar quarter last year and compared to comprehensive income of SR 12.5 million for the previous quarter. D- Total comprehensive loss during the first six months of current year amounts to SR. 35.2 million compared to comprehensive income of SR. 84.2 million for the similar period last year. E- Equity attributable to shareholders (after the elimination of Minority Interest) as of 30/06/2018 amounts to SR 1,561.1 million versus SR 1,704.8 million as of 30/06/2017, a decrease of 8.4%. F- The External Auditors have reviewed the financial statements and plan to issue an unmodified report.

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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