Fawaz Abdulaziz Alhokair Co. announces the annual financial results for the period ending on 31-03-2018

ELEMENT CURRENT YEAR PREVIOUS YEAR % CHANGE
Net profit (loss) 103.49 425.3 -75.67
Earning or loss per share, Riyals 0.49 2.03
Gross profit (loss) 1,214.62 1,517.07 -19.94
Operational profit (loss) 313.93 669.38 -53.1
All figures are in (Millions) Saudi Arabia, Riyals

 

 

ELEMENT EXPLAINATION
Reasons of annual financial results The net and operational profitability declined compared to last year is attributed to the following:
1) drop in sales by 8.6% and increase in the cost of sales percentage compared with the last year as a result of the slow down in sales during last 2 quarters leading to decrease demand resulting in decline of the gross profit level by 20.03%.
2) Decrease in the other operating income by SR 64.4 Million as a result of foreign exchange losses during this year.
3) Increase in share of loss from associated by SR 9.9 Million during this year as compared to the last year.
Reclassifications in annual financial results The amounts of the previous year presented have been re-measured, reviewed and adjusted in accordance with current accounting policies in accordance with International Financial Reporting Standards.
Other notes The total revenue for the current period amounted to SAR 6,116 Million compared to the same period last year of SAR 6,619 Million with a decrease of 8.6%. The total shareholders equity amounted to SAR 2,248 Million compared to SAR 2,113 Million at the end of 2017, an increase of 6.3%. As a result of efficient planning company borrowing during the year ended 2018 reduced by SR 129 Million. The total comprehensive income for the this year amounted to SAR 135 Million compared to SAR 297 Million for the last year.
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.

Source: Tadawul