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Al Mazaya Holding Company K.S.C. and its Subsidiaries
INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME
For the period ended
30
June
2013(UNAUDITED)
Three months ended
Six
months ended
30June
30June
2013
2012
2013
2012
Notes
KD
KD
KD
KD
Revenue from sale of properties held for trading
6,636,705
8,700,353
11,445,473
15,446,350
Rental income
971,707
684,468
1,834,456
1.265.203
Net management fees and commission income
73,410
372,357
331,801
506,710
REVENUE
7,681,822
9,757,178
13,611,730
17,218,263
Cost of sale of properties held for trading
(5,774,381)
(5,324,696)
(10,134,541 )
(10,070,370)
Cost of rental
(311,455)
(258,115)
(562,557)
(491,707)
COST OF REVENUE
(6,085,836)
(5,582,811)
(10,697,098)
(10,562,077)
GROSS PROFIT
1,595,986
4,174,367
2,914,632
6,656,186
General and administrative expenses
(862,428)
(691,416)
(1,657,771)
(J
,437,693)
Net investment loss
(122,408)
(1,436,738)
(640,677)
(1,468,892)
Share of results of associates
(14,136)
(16.837)
(4,349)
(9,264)
Share of results of joint ventures
267,404
231,809
307,814
446,993
Provisions no longer required
8
512,554
1,477,345
Net impairment charge on properties held for
trading
(790)
(698,634)
(190,787)
(698,634)
Interest income
18,903
32,485
44,419
72,705
Finance costs
(681,961)
(788,242)
(1,3 21,157)
(1,640,118)
Other expenses
(463,983)
(209,449)
(226,603)
(291,584)
Foreign exchange (loss) gain
(13,092)
(42,587)
10,720
(74,403)
Profit for the period before contribution to
Kuwait Foundation for Advancement of
Sciences ("KFAS"), National Labour Support
Tax ("NLST") and Zakat
236,049
554,758
713,586
1,555,296
KFAS
(5,548)
(15,553)
NLST
(13,869)
(38,883)
Zakat
(5,548)
(15,553)
236,049
529,793
713,586
1,485,307
Attributable to:
Equity holders of the Parent Company
210,342
646,458
424,087
1,596,891
Non-controlling interests
25,707
(116,665)
289,499
(111.584)
PROFIT FOR THE PERJOD
236,049
529,793
713,586
1.485,307
BASIC AND DILUTED EARNING PER SHARE
ATTRIBUTABLE TO EQUITY HOLDERS
OFTHE PARENT COMPANY
3
0.36 fils
1.11 fils
0.73 ms
2.73 fils
The attached notes 1 to 14 form part of this interim condensed consolidated financial information.
4