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Al Mazaya Holding Company K.S.C. and its Subsidiaries
INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME
(UNAUDITED)
For the period ended 30 June 2012
Three months ended 30 June
Six months ended 30 June
(Restated*)
(Restated*)
1012
2011
1012
20ll
Notes
KD
KD
KD
KD
Revenue from sale of properties held for trading
8,700,353
6,722,313
15,446,350
55,631,395
Rental income
684,468
353,296
1,265,203
675,301
Net management fees and commission income
372,357
(118,252)
506,710
385,881
REVENUE
9,757,178
6,957,357
17,218,263
56,692.577
Cost of sale of properties held for trading
(5,324,696)
(6285,727)
(10,070,370)
(37,045,394)
Cost of rental
(258,115)
(173,50 I)
(491,707)
(343,574)
COST OF REVENUE
(5,582,811)
(6,459.228)
(10,562,077)
(37,388,968)
GROSS PROFIT
4,174,367
498,129
6,656,186
19,303,609
General and administrative expenses
(717,930)
(815,378)
(1,414,519)
(1,376,748)
Marketing expenses
(25,799)
(34,350)
(55,591)
(64,450)
Professional services fees
(122,161)
140,073
(196,643)
(17,000)
Expenses on completed projects
(11,876)
(4,618)
(11,876)
(4,618)
Depreciation
(21,711)
(72,054)
(49,260)
(149,649)
Impairment loss on properties held for trading
6
(698,634)
(698,634)
Allowance for doubtful debts
(1,388)
(1,388)
OPERA TING PROFIT (LOSS)
2,574,868
(288,198)
4,228,275
17,691,144
Net investment income
120,205
160,873
141,213
112,707
Impairment loss on financial assets available for sale
(1,556,943)
(14,641)
(1,610,105)
(14,641)
Share of results of associates
(16,837)
(134,611)
(9,264)
(140,015)
Share of results of joint ventures
231,809
(229,464)
446,993
(474,088)
Loss on sale of a joint venture
(18,061)
(18,061)
Murabaha income
25,548
57,682
Interest income
32,485
26,983
72,705
59,849
Finance costs
(788,242)
(807,046)
(1,640,118)
(1,725,778)
Foreign exchange (loss) gain
(42,587)
178,279
(74,403)
343,080
Profit (1055)for the period before contribution to
Kuwait Foundation for Advancement
of Sciences
("KFAS"), National Labour Support Tax ("NLST")
and Zakat
554,758
(1,100,338)
1,555,296
15,891,879
Contribution
to KF
AS
(5,548)
(15,553)
NLST
(13,869)
(38,883)
ZAKAT
(5,548)
(15,553)
Profit (loss) for the period
529,793
(1,100,338)
1,485,307
15,891,879
Attributable to:
Equity holders of the Parent Company
646,458
(1,147,509)
1,596,891
15,804,867
Non-controlling interests
(116,665)
47,171
(111,584)
87,012
Profit (loss) for the period
529,793
(1,100,338)
1,485,307
15,891,879
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE
ATTRIBUTABLE TO EQUITY HOLDERS OF THE
PARENT COMPANY
4
i.n
fils
(1.87) fils
2.73 fils
28.49 fils
>I<
Certain comparative numbers presented do not correspond to the amounts disclosed in the interim condensed
consolidated financial information for the period ended 30 June 2011 due to restatement (Note 3).
The attached notes 1 to 13 form part of these interim condensed consolidated financial information.
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