18-10-2016 17-01-1438
|
ELEMENT |
CURRENT QUARTER |
SIMILAR QUARTER FOR PREVIOUS YEAR |
% CHANGE CURRENT |
PREVIOUS QUARTER |
% CHANGE PREVIOUS |
|
Net profit (loss) |
188 |
265 |
-29.06 |
300 |
-37.33 |
|
Gross profit (loss) |
325 |
388 |
-16.24 |
473 |
-31.29 |
|
Operational profit (loss) |
213 |
270 |
-21.11 |
311 |
-31.51 |
|
ELEMENT
|
CURRENT PERIOD |
SIMILAR PERIOD FOR PREVIOUS YEAR |
% CHANGE |
|
Net profit (loss)
|
682 |
946 |
-27.91 |
|
Gross profit (loss)
|
1.175 |
1.384 |
-15.1 |
|
Operational profit (loss)
|
730 |
975 |
-25.13 |
|
EARNING OR LOSS PER SHARE, RIYALS |
3.3 |
4.73 |
– |
All figures are in (Millions) Saudi Arabia, Riyals
|
ELEMENT
|
EXPLAINATION |
|
Reasons of increase (decrease) for quarter compared with same quarter last year |
The Company revenues decreased during the current quarter as compared with the same quarter of last year by 4% mainly due to decrease in sales of the traditional travel sector and domestic tourism especially in the government sector and government sector related companies as well as decrease in average ticket price It should be noted here that the Groups online sales through its electronic platform have increased by 1009% compared with last year for the same quarter (from SR 13 million to SR 144 million) this sector enjoyed rapid growth from the Groups strategy to focus on online sector The net profit for the current quarter has decreased by 29% as compared to last year due to decrease in sales by 4% and drop in gross profit margin due to decrease in margins for some services in order to protect and increase the market share and due to change in product mix with variable margins. |
|
Reasons of increase (decrease) for period compared with same period last year
|
The Company revenues decreased during the current period as compared with the same period of last year by 7% mainly due to decrease in sales of the traditional travel sector and domestic tourism, especially in the government sector and government sector related companies as well as lower average ticket prices during the current period as compared to last year. It should be noted here that the Group online sales through its electronic platform have increased by 1961% compared with last year for the same period (from SR 20 million to SR 421 million). This sector enjoyed rapid growth from the Group’s strategy to focus on online sector. The net profit for the current period has decreased by 28% as compared to last year due to decrease in sales by 7% and slight drop in gross profit margin in addition to impairment loss recorded on investment in associates and impairment loss recorded on intangible assets. Excluding the impact of impairment losses recorded on equity accounted investment SR 6.4 million (2015: SR30 million) and impairment loss recorded for intangible assets SR 77 million (2015: NIL) the net profit of the Company has decreased by 22% as compared to same period last year. |
|
Reasons of increase (decrease) for quarter compared with previous quarter |
Revenue of the company during the current quarter as compared to previous quarter has decreased by 18% mainly due to seasonality reasons. The net profit for the current quarter has decreased by 37% as compared to previous quarter due to decrease in sales by 18% and due to seasonality reasons. |
|
Re classifications in quarterly financial results
|
Certain comparative figures are reclassified to conform current period classification |
|
Other notes |
The revenue during the current quarter amounted to SAR 1,823 Million compared to SAR 1,907 million for the same quarter of last year, showing a decrease of 4 %. The revenue during the current period amounted to SAR 6,005 million compared to SAR 6,446 million with a decrease of 7%. The shareholders equity (without minority interest) as of end of current period is SAR 5,423 million showing an increase by 44% compared to SAR 3,761 million as of end of similar period last year (without minority interest)Earnings / (loss) per share from operating income, other income / (expense) and net income for the current period has been calculated by using the weighted average number of ordinary shares outstanding as at 30 September 2016 of 206.3 million shares (2015: 200 million shares). The Company increased its capital on 3rd April 2016 by issuing 9.6 million new ordinary shares of SR 10 each. |
