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AL MAZAYA HOLDING COMPANY K.S.c. AND ITS SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENT OF INCOME
(UNAUDITED)
MAlAYA
A\Ml(lI.F.AD
For the period from I January to 31 March 2012
31 March
31 March
Notes
2012
2011
INCOME
KD
KD
Revenue from sale of properties held for trading
6,745,997
Rental income
580,735
322,005
Management fees, commission and consultancy income
178,172
579,357
7,504,904
901,362
Cost of sale of properties held for trading
(4,745,673)
Direct operating expenses on investment properties
(233,593)
(170,072)
Cost of management fees and consultancy services
(43,819)
(31,035)
(5,023,085)
(201,107)
Gross profit
2,481,819
700,255
Marketing expenses
(29,792)
(30,100)
Group's share of results from associates
9
7,574
(5,404)
Group's share of results from joint ventures
215,184
(14,667)
Operating profit
2,674,785
650,084
General and administrative expenses
(614,455)
(584,977)
Professional services fees
(74,481)
(157,073)
Depreciation
(27,549)
(77,595)
Foreign currency exchange differences
(31,816)
164,801
Net investment loss
14
(32,154)
(48,166)
Interest income
40,221
65,000
Other expenses
(82,136)
(21,441)
Finance cost
(851,876)
(918,732)
(1,674,246)
(1,578,183 )
Profit! (loss) for the period before contribution to
Kuwait Foundation for Advancement of Sciences ("KF AS"),
National Labor Support Tax ("NLST") and Zakat
1,000,539
(928,099)
Contribution to
KF
AS
(10,005)
NLST
(25,013)
Zakat
(10,005)
Profit / (loss) for the period
955,516
(928,099)
Attributable to:
Equity holders of the Parent Company
950,435
(967,940)
Non-controlling interests
5,081
39,841
Profit / (loss) for the period
955,516
(928,099)
Earnings / (loss) per share attributable to equity holders of the Parent Company
15
1.63
(1.67)
The accompanying notes set out on pages 7 to 14 form an integral part of this interim consolidated fmancial information.
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