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Takween Advanced Industries Co. announces the interim financial results for the period ending on 30-09-2016 (Nine Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 5,085 -2,273 - 15,074 -66.27
Gross profit (loss) 47,890 55,720 -14.05 78,132 -38.71
Operational profit (loss) 28,040 17,880 56.82 32,185 -12.88
All figures are in (Thousands) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 25,187 10,273 145.18
Gross profit (loss) 183,542 160,760 14.17
Operational profit (loss) 80,520 35,245 128.46
Earning or loss per share, Riyals 0.72 0.29 -
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 net profit in the current quarter compared with the net loss in same quarter of previous year is due to the decrease in general and administrative expenses, selling and distribution expenses, and research expenses; although there were decrease in sales, and increase in foreign currency traslation loss.
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, and general and administrative expenses; although there were increase in financial charges and foreign currency traslation loss.
Reasons of increase (decrease) for quarter compared with previous quarter The reason for the decrease in net profit for the current period compared with the net profit of the previous period in same year is due to the decrease in sales; although there were a decrease in selling and distribution expenses, research expenses, general and administrative expenses, and increase in 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 sales for the quarter ended 30 September, 2016 amounted to SAR 378.9 million compared to the same quarter last year of SAR 459.5 million a decrease of 17.54%.
The sales for the period ended 30 September, 2016 amounted to SAR 1.136 billion compared to the same period last year of SAR 1.356 billion, a decrease of 16.22%.
The total shareholders' equity (before minority interest) at 30 September, 2016 amounted to SAR 477.6 million compared to SAR 492.4 million at 30 September, 2015, a decrease of 3.01%.
The results of the interim period are not audited and therefore it may not give accurate indication.

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