SAPTCO announces the consolidated financial results for the period ending on 31-12-2017

28/03/2018
SAPTCO announces the consolidated financial results for the period ending on 31-12-2017

Element Current Year Previous Year % Change
Net profit (loss) 81,737 130,902 37.56-
Earning or loss per share, Riyals 0.63 1.06 -
Gross profit (loss) 171,532 240,849 28.78-
Operational profit (loss) 38,349 97,559 60.69-

All figures are in (Thousands) Saudi Arabia, Riyals

Element Explaination
Reasons of annual financial results Reasons for decline in net profit for the current period compared with the same period of the previous year:-
  1. Decrease in operating revenue amounted to SAR 24 Million percentage of 2%. due to lower demand for transport services.
  2. Increase in operating cost Amounted to SAR 45 Million for percentage of 5% due to the strengthening of the company's fleet of modern buses.
  3. Increase in general and administrative expenses Amounted to SAR one Million percentage of 1%.
  4. Decrease in finance income Amounted to SAR 5.9 million and percentage of 39%.
  5. Increase in financing cost Amounted to 10.9 Million and percentage of 133.3% result to enter into murabaha contracts to buy the buses.
  6. Decrease in other income Amounted to 1.6 Million and percentage of 6.7%.
Reclassifications in annual financial results The comparatives have been represented, reclassified and categorized in accordance with the accounting policies applied in the presentation, classification and classification of the consolidated financial statements for the current period which have been prepared in accordance with the International Financial Reporting Standards adopted for the current year have been applying international financial reporting standards effective 1/1/2017 m Adopted in Kingdom of Saudi Arabia and Other accredited by the Saudi Organization for Certified Public Accountants.
Other notes
  • Total equity (excluding non-dominant property rights share) at 31 December 2017 amounted to SAR 1,619 million compared to shareholders ' equity (excluding non-controlling equity stake) 1,525 million as at 1 January 2016 an increase of 6.2%, versus 1,603 million as at 31 December 2016 an increase of 1%.
  • Total comprehensive income (excluding non-dominant property rights share) in the year amounted to SAR 79 million compared to SAR 141 million the previous year, a decrease of 43.9%.

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