loader

News Details

Al Hammadi Company for Development and Investment announces its Annual financial results for the period ending on 2018-12-31

ELEMENT LIST CURRENT YEAR PREVIOUS YEAR %CHANGE
Sales/Revenue 893.59 708.62 26.102
Total Profit (Loss) 244.61 239.16 2.278
Profit (Loss) Operational 138.14 142.58 -3.114
Net Profit (Loss) after Zakat and Tax 89.81 107.96 -16.811
Total Comprehensive Income 93.04 107.45 -13.41
Total Share Holders Equity (after deducting minority equity) 1,478.59 1,387.09 6.596
Profit (Loss) per Share 0.75 0.9
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LIST EXPLANATION
Reason for increase (decrease) in net profit for current year compared to last year The net profit decreased for the current year 2018 compared to the previous year 2017 due to:

 

1-Increasing the operating expenses due to the opening of Nuzha Hospital in February 2018, as well as the increase in administrative salaries as a result of the appointing Nuzha Hospital administrative staff and increasing the government labor fees.

2- Depreciation expenses increased by SR 35.39 million in 2018 compared to 2017 due to the start of Nuzha hospital operations in year 2018.

3. Finance costs increased by SR 13.85 million in 2018 compared to 2017 due to the increase in loans financing during 2018 to finance the operations of the company and the subsidiary.

Type of the external auditor's opinion Unmodified opinion
Reclassifications in annual financial results 1- Certain disclosures and figures of the financial statements for the current year have been presented, classified and measured in accordance with IFRS 9 and 15. For more information, refer to note 4 (Accounting Policies) attached to the consolidated financial statements for the year ended December 31, 2018.

 

 

2- This consolidated financial statements incorporate the financial statements of the subsidiary (Medical Support Services Company) acquired during the first quarter of 2018 with the Company's financial statements. Therefore, the balances of the comparative figures do not include the balances or figures of the subsidiary.

3- Certain figures of the previous year have been reclassified to conform to the presentation for the current year presentation.