Net profit (loss)

18.8

43.1

-56.38

50.2

-62.55

Gross profit (loss)

82.9

97.9

-15.32

106.6

-22.23

Operational profit (loss)

14.3

35.2

-59.38

46.4

-69.18

All figures are in (Millions) Saudi Arabia, Riyals

Net profit (loss)

69

100.7

-31.48

Gross profit (loss)

189.5

211.4

-10.36

Operational profit (loss)

60.7

90.5

-32.93

Earning or loss per share, Riyals

1.25

1.83

-

All figures are in (Millions) Saudi Arabia, Riyals

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

1- Seasonality in Companys operation which negatively impacted the revenues and profits of existing hotels and entertainment centers as compared with the similar quarter of previous year. 

The decline in the revenue of existing locations was due to the seasonality during the holy month of Ramadan that occurred in Q2, 2016 whereas in 2015 the major portion of the holy month of Ramadan occurred in the third quarter.

2- Decline in profit from associates due to seasonality in their operation.

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

1- Seasonality in Companys operation which negatively impacted the revenues and profits of existing hotels and entertainment centers as compared with the similar period of previous year. 

The decline in the revenue of existing locations was due to the seasonality during the holy month of Ramadan that occurred in Q2, 2016 whereas in 2015 the major portion of the holy month of Ramadan occurred in the third quarter.

2- Decline in the demand from corporate sector on hotels in addition to the decline in demand from individuals sector on entertainment centers which was positively and remarkably impacted during the same period of previous year by the honorable gesture of the Custodian of the two Holy Mosques.

3- The increase in finance charges because of the major increase in SIBOR as compared with the same period of last year.

It is worth noting that the company achieved a growth in revenues of 4% resulting from the opening of new entertainment and hotel locations which were previously announced on Tadawul (during 2015).

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

1- Seasonality in Companys operation which negatively impacted the revenues and profits of hotels and entertainment centers as compared with the previous quarter. 

The decline in the revenue was due to the seasonality during the holy month of Ramadan that occurred in Q2, 2016 whereas in 2015 the major portion of the holy month of Ramadan occurred in the third quarter.

2- Increase in General and administrative expenses inline with operating requirements related to the new expansion projects which were announced in the Annual Board of Directors report of FY2015 in addition to the increase in selling and marketing expenses which are usually incurred before Eid holidays and summer vacations.

Other notes

The holy month of Ramadan usually witness decline in companys operation as a result of major decline in the demand from corporate sector on hotels and individuals sector on entertainment. It is worth noting that the negative impact from seasonality in companys operation during the holy month of Ramadan was not remarkable on the quarterly results of 2015 because the major portion of Ramadan was occurred in the third quarter of last year and Eid Al Fitr and Eid Al Adha holidays have occurred in the third quarter as well where demand on hotels and entertainment sector usually increase during Eid Holiday