Al Hokair Group announces the interim financial results for the period ending on 31-12-2016 (Twelve Months)

 

ELEMENT

CURRENT QUARTER

Q4.16

SIMILAR QUARTER FOR PREVIOUS YEAR

Q3 2015

 CHANGE CURRENT

%

PREVIOUS QUARTER

Q3.16

 CHANGE PREVIOUS

%

Net profit (loss)

20.2

31.9

-36.7%

58.4

-65.4%

Gross profit (loss)

80.9

91.4

-11.5%

124.9

-35.2%

Operational profit (loss)

20.8

27.5

-24.4%

59.6

-65.1%

 

 

ELEMENT

CURRENT PERIOD

2016

SIMILAR PERIOD FOR PREVIOUS YEAR

2015

 CHANGE

%

Net profit (loss)

147.6

189.8

-22.2%

Gross profit (loss)

390.2

421.8

-7.5%

Operational profit (loss)

141.1

170.9

-17.4%

 

 

  
Reasons of increase (decrease) for quarter compared with same quarter last year

The decrease in the gross profit, operational profit and net profit in this quarter as compared with the same quarter of the last year is due to the decline in demand from corporate sector and individuals on hotels in addition to the decline in the current Omrah season. The decline is also due to the decrease in profit from the associate companies in this quarter as compared to the same quarter of last year as well as the increase in finance charges because of the major increase in SIBOR as compared with the same quarter of last year.

Reasons of increase (decrease) for period compared with same period last year

The decrease in the gross profit, operational profit and net profit in this period as compared with the same period of the last year is due to the decline in demand from corporate sector and individuals on hotels in addition to the decline in the current Omrah season.

The decline in demand from individuals sector on entertainment centers during the first and second quarter of this year compared with the same period of previous year which was positively and remarkably impacted by the honorable gesture of the Custodian of the two Holy Mosques.

 

The decline is also due to the decrease in profit from associate companies in this period as compared to the same period of last year as well as the increase in finance charges because of the major increase in SIBOR as compared with the same period of last year. It is worth noting that the company achieved a growth in gross revenue by 2% as compared to the same period of last year.

Reasons of increase (decrease) for quarter compared with previous quarter

The decrease in the gross profit, operational profit and net profit in this quarter as compared with the previous quarter of current year is mainly due to Seasonality in entertainment division operation as the previous quarter included Eid Al Adha, Eid Al Fiter and school vacation which positively impacted the increase in previous quarter profit for the company and associates companies. The decline is also due to the decline in demand from corporate sector and individuals on hotels in addition to the decline in the current Omrah season.

 

Reclassifications in quarterly financial results

Certain comparative figures have been reclassified to conform to the presentation in the current period.

Other notes

Total revenues during the current quarter amounted to SR 258.9 million, compared with SR 275.6 million for the corresponding quarter of the previous year, with decrease of 6%.

Total revenues during current period amounted SR 1,174 million compared with SR 1,146 million for same period of last year with increase of 2.4%.

 

Total Shareholders Equity (Minority interests are not available) amounted SR 804 million by end of this period compared with SR762 million as at the end of same period last year with increase of 5.5%.

EPS for the current period amounted SR 2.68, compared with SR 3.45 for the same period of last year

 

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