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Takween Advanced Industries Co. announces the interim financial results for the period ending on 30-06-2016 (Six Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 15,074 28,032 -46.23 5,028 199.8
Gross profit (loss) 78,132 77,154 1.27 57,520 35.83
Operational profit (loss) 32,185 38,787 -17.02 20,295 58.59
All figures are in (Thousands) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 20,102 12,545 60.24
Gross profit (loss) 135,652 105,040 29.14
Operational profit (loss) 52,480 17,364 202.23
Earning or loss per share, Riyals 0.57 0.36 -
All figures are in (Thousands) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The reason for the decrease in net profit in the current quarter compared with the net profit in same quarter of previous year is due to the decrease in sales, the increase in general and administrative expenses, and the increase in financial charges; although there were decrease in cost of sales, distribution expenses, and research expenses.
Reasons of increase (decrease) for period compared with same period last year The reason for the increase in net profit compared with the net profit from same period of the previous year is due to the decrease in cost of sales, selling and distribution expenses, and research expenses; although there were increase in general and administrative expenses, and financial charges.
Reasons of increase (decrease) for quarter compared with previous quarter The reason for the increase in net profit for the current period compared with the net profit of the previous period in same year is due to the increase in sales; although there were an increase selling and distribution expenses, research expenses, general and administrative expenses, and financial charges.
Reclassifications in quarterly financial results Certain figures have been reclassified to comply with the current period presentation of the financial statements.
Other notes The results of the interim period are not audited and therefore it may not give accurate indication.

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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