Saudi Public Transport Co. announces the interim financial results for the period ending on 31-03-2017 Three Months
"SAPTCO Announces the interim financial results ending on 31-03-2017 (Three Months)
||Similar Quarter for previous year
|Net profit (loss)
|Gross profit (loss)
|Operational profit (loss)
|Earning or loss per share, Riyals
All figures are in (Thousands) Saudi Arabia, Riyals
|Reasons of increase (decrease) for quarter compared with same quarter last year
||Reasons for decline in net profits in the current quarter compared with the same quarter of the previous year:-
- Current quarter activity revenue decline by SAR 28 Million or 10.9% compared with the same period of the previous year.
- The rising cost of activity during the current quarter SAR 0.6 Million or 0.3% compared to the same quarter of the previous year.
- Higher General and administrative expenses during the current quarter by SAR 3.9 Million compared with the same quarter of the previous year.
- Other income during the current quarter decline by SAR 3.1 Million-an average of 22.1% compared to the same quarter of the previous year.
- Higher financing costs SAR 2.6 Million.
- High current quarter Zakat SAR 2.1 Million compared to the same quarter of the previous year.
|Reasons of increase (decrease) for quarter compared with previous quarter
||Reasons for decline in net profit in the current quarter compared with the previous quarter:-
- Decrease on activity revenue during the current quarter SAR 23.3 million-an average of 9.2% compared to the previous quarter.
- The decrease in a joint venture profit for SAR 2.1 Million.
- The rising cost of financing SAR 1.8 Million. Rising expenses of Zakat SAR 0.2 Million.
|Reclassifications in quarterly financial results
Interim consolidated financial statements were prepared according to IAS (34) the first financial report adopted in Saudi Arabia and standards and versions supported by Saudi Organization for certified accountants, this consolidated financial group first released summary according to IFRS and IAS financial report (1) of these standards (IFRS financial report for the first time)
classification and compilation of terms and elements of the consolidated financial statement summary for the comparison in accordance with applicable accounting policies in issuing and display and the items and elements and clarifications tab consolidated financial summary for the current period for more information, please see the note (4).
- The current quarter revenue totaled SAR 229 Million, compared to SAR 257 Million for the same quarter of the previous year, a decrease of 10.9%.
- Total equity (excluding minority interests) for the current period 1 542 Million, compared with 1547 Million for the same period of the previous year, a decrease of 0.3%.
- Total comprehensive income for the current quarter 2017 SAR 2.85 Million compared with SAR 23.11 Million during the same period of the previous year a decrease of 87.7% compare to 30.5 for the pervious quarter a decrease of 90.6%.