ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 16,052,478 10,727,545 49.64 9,288,672 72.82
Gross profit (loss) 26,846,988 18,520,886 44.96 24,186,181 11
Operational profit (loss) 17,532,326 8,712,940 101.22 14,205,171 23.42
All figures are in Saudi Arabia, Riyals
ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss) 25,341,150 26,057,087 -2.75
Gross profit (loss) 51,033,169 40,948,401 24.63
Operational profit (loss) 31,737,497 21,045,929 50.8
Earning or loss per share, Riyals 1.06 1.09
All figures are in Saudi Arabia, Riyals
ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The main reason for the increase of 49.6% in net income during the 2nd quarter of 2017 compared with the same quarter last year in 2016 is attributed to: -The increase in operating revenue by 11,589,564 SAR, along with the decrease in the ratio of operating costs by 5.3% that led to an increase in gross profit by 8,326,102 SAR -The decrease in general and administrative exepenses by 493,284 SAR
Reasons of increase (decrease) for period compared with same period last year The reasons behind the decrease of 2.75% in net income during the first half of 2017 compared with the same period last year in 2016 is attributed mainly to: -The comparable period last year included other income equal to 9,002,514 SAR compared to other income from the first half of 2017 equal to 1,521,639 SAR -The comparable period last year included investment income equal to 2,804,935 SAR compared to the losses for investment income for the first half of 2017 equal to 1,605,828 SAR -The comparable period last year included capital gains equal to 989,703 SAR compared to the capital gains on the first half of 2017 equal to 145,134 SAR
Reasons of increase (decrease) for quarter compared with previous quarter The reason for the increase of 72.8% in the net income for the 2nd quarter of 2017 compared with the previous quarter is attributed mainly to: -The increase in the operating revenue by 4,958,747 SAR along with the decrease of 1.3% in the operating cost ratio which led to the increase in gross profit of 2,660,807 SAR. -The decrease in general and administrative expenses by 666,348 SAR. -The current quarter s income included other income of 1,508,828 SAR compared to 13,053 SAR in the previous quarter. -The previous quarter included investment losses of 1,785,828 SAR, resulting from liquidation of the securities portfolio compared to realized investment income for the 2nd quarter of 2017 equal to 180,000 SAR
Reclassifications in quarterly financial results The consolidated interim financial statements and their related items, elements and notes have been compared, redisplayed, regrouped and reclassified to meet with the applied accounting policies for the current period which have been prepared according to the International Financial Reporting Standards (IFRS) that are endorsed and applicable in the Kingdom of Saudi Arabia. For more information, please see the notes in the Interim Consolidated Financial Statements for the period ended in 30 June 2017.
Other notes -Revenue for the quarter ending on June 30, 2017 amounted to 121,079,098 SAR compared to a value of 109,489,534 SAR for the same quarter of last year, an increase equivalent to 10.6%. Compared to the previous quarters amount of 116,120,351 SAR, the increase was equivalent to 4.2% -Revenue for the first half of 2017 amounted to 237,199,449 SAR compared to 222,312,702 SAR for the same period last year, an increase equivalent to 6.7% -Total Comprehensive Net Income for the 2nd quarter 2017 amounted to 16,052,478 SAR compared to 12,381,488 SAR for the same quarter of last year an increase equivalent to 29.6%. Compared to the previous quarters amount of 9,288,672 SAR, the increase was equivalent to 72.8% -Total Comprehensive Income for the first half of 2017 amounted to 25,341,150 SAR compared to 25,018,830 SAR for the same period of last year an increase equivalent to 1.3% -Total shareholders equity (after exclusion of minority rights) as of June 30, 2017 was 325,804,009 SAR compared to 300,027,983 SAR for the same period of last year, an increase equivalent to 8.6%. The profit per share has been counted based on 24 million shares for the year 2016 and 24 million shares for the year 2017 due to the increase in capital during the year 2016.