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AL MAZAYA HOLDING COMPANY
K.S.C.
(HOLDING) AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
FOR THE PERIOD ENDED MARCH
31,
2009
(All amounts are in Kuwaiti Dinars)
Three months ended
March 31,
2008
Note
2009
(Restated)
Revenues
Revenue from sale of properties under development
11
9,112,143
11,397,851
Revenue from sale of properties held for trading
12
13,342,034
10,412,570
Revenue from sale of investment properties
2,570,838
Total revenues
22,454,177
24,381,259
Cost of revenues
Cost of sale of properties under development
11
(7,273,412)
(5,987,827)
Cost of sale of properties held for trading
12
(6,341,626)
(6,845,893)
Total cost of revenues
(13,615,038)
(12,833,720)
Gross profit
8,839,139
11,547,539
Management fees, commission and consultancy income
129,586
759,347
Net investment income (loss)
100,524
(589,148)
(Loss) gain on partial disposal of a subsidiary
(11,316)
3,391,755
Group's share of results from joint ventures
(37,539)
580,760
Marketing expenses
(81,336)
(252,883)
Administrative expenses
(1,119,197)
(1,256,900)
Expenses related to equity settled share based payments
(30,636)
(364,928)
Depreciation and amortization
(90,248)
(80,203)
Expenses on completed projects
(8,620)
(237,725)
Foreign currency exchange (loss) gain
(31,452)
587,889
Other income
479,259
110,245
Interest income
182,185
506,889
Finance charges
(652,571)
(1,204,751)
Profit for the period before contribution to Kuwait Foundation for the Advancement
of Sciences, National Labor Support Tax and contribution to Zakat
7,667,778
13,497,886
Contribution to Kuwait Foundation for the Advancement of Sciences
(2,169)
(99,081)
Contribution to Zakat
(3,720)
(263,569)
National Labor Support Tax
(129,659)
(103,559)
Net profit for the period
7,532,230
13,031,677
Attributable to:
Equity holders of the Parent Company
5,050,826
12,190,701
Non-controlling interests
2,481,404
840,976
Net profit for the period
7,532,230
13,031,677
Fils
Fils
Earnings per share attributable to the equity holders of the Parent Company
13
12.30
32.67
The accompanying notes (1) to (20) form an integral part of the interim consolidated financial information
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