Mazaya_FS_E Q4. 20

AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC) AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED DECEMBER 31, 2020 (All amounts are in Kuwaiti Dinars) 5 Note 2020 2019 Revenue: Revenue from sale of properties held for trading 20 9,906,539 19,084,068 Rental Income 20 9,368,573 8,726,764 Net management fees and commission income 271,632 52,344 Total revenue 19,546,744 27,863,176 Cost of revenue: Cost of sale of properties held for trading (9,749,990) (20,971,859) Cost of rental (2,139,441) (1,705,005) Total cost (11,889,431) (22,676,864) Gross profit 7,657,313 5,186,312 Impairment loss on properties held for trading 6 (838,351) (2,470,542) Share of results from an associate 8 (474,452) 46,490 Share of results from joint venture - 587,869 Change in fair value of investment properties 9 (4,076,282) (769,174) Selling and marketing expenses (117,109) (409,051) General and administrative expenses (3,576,486) (4,198,051) Operating loss (1,425,367) (2,026,147) Net investment income 21 98,333 540,539 Effect of reclassification of an associate to financial assets at FVTOCI 8 172,194 - Net other expenses 22 (1,686,696) (1,284,098) Amortization of finance costs related to lease liabilities 12 (657,938) (315,844) Finance costs (4,947,473) (5,567,876) Loss for the year (8,446,947) (8,653,426) Attributable to: Shareholders of the Parent Company (8,476,775) (8,768,587) Non-controlling interests 29,828 115,161 (8,446,947) (8,653,426) Loss per share attributable to shareholders of the Parent Company: Basic loss per share attributable to shareholders of the Parent Company – (Fils) 23 (13.50) (13.98) Diluted loss per share attributable to shareholders of the Parent Company – (Fils) 23 (13.48) (13.93) The accompanying notes (1) to (31) form an integral part of the consolidated financial statements.