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Aldrees Petroleum and Transport Services Co. announces the annual financial results for the period ending on 31-12-2017 (Twelve Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 12.4 14.8 -16.22 18.2 -31.87
Gross profit (loss) 44.9 41.9 7.16 46.5 -3.44
Operational profit (loss) 17.6 16 10 23.1 -23.81
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 63.4 89.2 -28.92
Gross profit (loss) 182.1 206.2 -11.69
Operational profit (loss) 80.1 102.6 -21.93
Earning or loss per share, Riyals 1.27 1.78 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Reasons of decrease net profit for quarter compared with same quarter last year due to Increase of general and Administrative, financial expenses, and Zakat expenses ,decrease of other revenue of joint venture, decrease of marketing expenses
Reasons of increase (decrease) for period compared with same period last year Reasons of decrease net profit for quarter compared with same quarter last year due to decrease of Petrol and Transport Divisions sales, Increase of general and Administrative and financial expenses, decrease of other revenues of joint venture, decrease of marketing and Zakat expenses.
Reasons of increase (decrease) for quarter compared with previous quarter Reasons of decrease net profit for quarter compared with same quarter last year due to decrease of Petrol and Transport Divisions sales decrease of marketing and general and Administrative expenses, increase of financial expenses and decrease other revenues and Zakat expenses
Other notes Sales during the current quarter amounted to SAR 885.5 Million compared to SAR 869.3 Million for the same quarter last year, a increase of 1.86%. Total net comprehensive income during the current quarter SAR 12.4 Million compared to SAR 14.8 Million for the same quarter last year, an decrease of 16.22% compared to SAR 18.2 Million for the previous quarter with an decrease of 31.87%. Sales during the current period amounted to SAR 3,409.6 Million riyals compared to SAR 3,461.3 Million riyals for the same period of the previous year, a decrease of 1.49%. The total net comprehensive income during the current period SAR 63.4 Million riyals compared to SAR 89.2 Million riyals for the same period of the previous year, with a decrease of 28.92%. Total shareholders' equity (no minority interest) as of December 31, 2017, is SR 655.8 Million compared to SAR 633.7 million as of December 31, 2016, an increase of 3.49%. Earnings per share were adjusted in line with the increase in the company's capital from 40 Million shares to 50 Million shares after the approval of the Extraordinary General Assembly on March 12, 2017. The reason for the adjustment for net profit, gross profit, operating profit for the same quarter last year and the net profit, gross profit and operating profit for the same period last year is due to the application of IAS 19 (Employee Benefits)

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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