United International Transportation Co. announces its Interim Financial Results for the Period Ending on 30-09-2021 (Nine Months)
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ELEMENT LIST |
CURRENT QUARTER |
SIMILAR QUARTER FOR PREVIOUS YEAR |
%CHANGE |
PREVIOUS QUARTER |
%CHANGE |
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Sales/Revenue |
254,963 |
227,651 |
11.997 |
237,136 |
7.517 |
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Gross Profit (Loss) |
92,929 |
64,650 |
43.741 |
83,517 |
11.269 |
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Operational Profit (Loss) |
59,836 |
42,396 |
41.135 |
58,732 |
1.879 |
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Net Profit (Loss) after Zakat and Tax |
56,770 |
40,450 |
40.346 |
56,253 |
0.919 |
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Total Comprehensive Income |
56,770 |
40,476 |
40.255 |
56,253 |
0.919 |
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All figures are in (Thousands) Saudi Arabia, Riyals |
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ELEMENT LIST |
CURRENT PERIOD |
SIMILAR PERIOD FOR PREVIOUS YEAR |
%CHANGE |
|
Sales/Revenue |
733,526 |
691,983 |
6.003 |
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Gross Profit (Loss) |
261,086 |
192,156 |
35.871 |
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Operational Profit (Loss) |
175,682 |
113,904 |
54.236 |
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Net Profit (Loss) after Zakat and Tax |
168,199 |
108,489 |
55.037 |
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Total Comprehensive Income |
168,199 |
108,354 |
55.231 |
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Total Share Holders Equity (after Deducting Minority Equity) |
1,311,083 |
1,196,986 |
9.532 |
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Profit (Loss) per Share |
2.36 |
1.52 |
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All figures are in (Thousands) Saudi Arabia, Riyals |
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ELEMENT LIST |
EXPLANATION |
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The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is
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The increase in profit is primarily attributed to increasing used cars sale proceeds and the resultant gain from sales of used cars, along with better rental revenue as the result of improving short-term rental vehicle utilization |
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The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is |
The marginal improvement in the profit compared to the preceding quarter is mainly due to an increase in sale proceeds and the resultant gain from disposals |
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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 increase in profit was primarily attributed to an increase in sale proceeds and the resultant gain from sales of used cars, along with better short-term rentals revenue as the result of improving utilization. Recently the lease revenue has also shown gradual improvement, which was declined due to weak economic activities coupled with the ongoing COVID-19 pandemic |
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Statement of the type of external auditor's report |
Unmodified conclusion |
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Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion |
None |
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Reclassification of Comparison Items |
Certain comparative figures have been reclassified to conform to the current Period's presentation according to International Financial Reporting Standards (IFRS) |