Net profit (loss)

39,593

42,477

-6.79

21,571

83.55

Gross profit (loss)

64,885

66,050

-1.76

67,806

-4.31

Operational profit (loss)

43,366

48,100

-9.84

43,106

0.6

Earning or loss per share, Riyals

0.56

0.6

-

-

-

All figures are in (Thousands) Saudi Arabia, Riyals

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

The decrease in net profit in current quarter compared to same quarter last year is mainly due to decrease of revenue from short rental and lower revenue from car sale gain as a result of comparatively low number of vehicles sold. Also in the current quarter provision for bad debt is SR 2.5 M compared to SR 600 K in the same quarter last year.

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

The increase in net profit in current quarter compared to previous quarter because in the preceding quarter, the company has made the impairment of SR 14.9 M against the investment in its associate due to status que situation of the associate with no improvement. No such impairment in the current quarter.

Reclassifications in quarterly financial results

Certain comparative figures have been reclassified to conform to the current period's presentation according to International Financial Reporting Standards (IFRS).

Other notes

1- The revenue of the current quarter is SR 270 million compared to SR 299 million for the same quarter last year with decrease of 9.6% . 2- The total Comprehensive Income during the current Quarter is SR 39.59 million compared to SR 42.48 million for same quarter last year with decrease of 6.8% and compared to SR 23.31 million for previous quarter with increase of 70% because in the preceding quarter, the company has made the impairment of SR 14.9 M against the investment in its associate due to status que situation of the associate with no improvement. No such impairment in the current quarter.
3- The shareholders equity (no minatory Interests) as of 31 March 2018 amounted to SR 1110 Million compared to SR 1070 Million as of 31 March 2017 with increase of 3.7%.
4- The decrease of Income from operation in current quarter compared to same quarter last year was mainly due to decrease of revenue from short rental as well as comparatively lower sale proceeds from vehicles due to low volume of vehicles sold.
5- Earnings per share for the three months period ended 31/3/2018, 31/3/2017 have been computed by dividing the net income for the period by 71 million shares (including bonus shares) according to previous approval from EGM dated 19-4-2017