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Alandalus Property Co. announces its Consolidated Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 54.152.363.3253.31.5
Gross Profit (Loss) 37.535.525.5736.692.21
Operational Profit (Loss) 29.3631.92-8.0234.55-15.02
Net Profit (Loss) after Zakat and Tax 15.4619.23-19.619.79-21.88
Total Comprehensive Income 15.4619.23-19.619.79-21.88
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 107.39102.914.35
Gross Profit (Loss) 74.1869.137.3
Operational Profit (Loss) 63.9164.71-1.24
Net Profit (Loss) after Zakat and Tax 35.2538.19-7.7
Total Comprehensive Income 35.2538.19-7.7
Total Share Holders Equity (after Deducting Minority Equity) 1,074.971,056.361.76
Profit (Loss) per Share 0.380.41
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason for the decrease in net profit attributable to the shareholders of the company mainly attributed to:

• the decrease in the company's share of income of associates

• the increase in G&A expenses as well increase in Zakat expense.

Net profit decreased despite the increase in total revenue and gross profit.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is The reason for the decrease in net profit attributable to the shareholders of the company mainly attributed to:

• the decrease in the company's share of income of associates.

• the increase in G&A and marketing expenses as well the decrease in other income.

Net profit decreased despite the increase in total revenue and gross profit

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for the decrease in net profit attributable to the shareholders of the company mainly attributed to:

• the decrease in the company's share of income of associates.

• the increase in G&A and Zakat expense as well the decrease in other income.

Net profit decreased despite the increase in total revenue and gross profit.

Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items Certain prior period figures have been reclassified to conform with the presentation in the current period
Additional Information Revenue have increased during the current period by 4.35% amounting to 107.39 million, compared to 102.91 million for the same period of the previous year. This increase mainly as a result of a 58% increase in the hospitality sector’s revenues, and minor increase in retails sector’s revenues by 2.5%.

As a result, the gross profit increased by 7.3% to 74.18 million during the current half, compared to 69.13 million during the same half of the previous year.

Basic and diluted earnings per share is calculated by dividing the profit for the period attributable to the shareholders of the company by the weighted average number of ordinary shares outstanding during the period, Accordingly, the earnings per share for the comparative period were adjusted by adjusting the weighted average number of ordinary shares.

For more information, please refer to Note No. (12) included in the interim financial statements for the first quarter of 2022.

The Condensed consolidated financial statements for the period ended 30th June 2022 will be available on Al-Andalus Property Website.

As well as the Investor Presentation for the same period will be available on Al-Andalus Property website and application within the Investors relations section under investors presentations.

http://www.alandalus.com.sa

Attached Documents     

The Capital Market Authority and Saudi 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.

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