L'azurde Company for Jewelry reported consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net profit was SAR 2,630,000 against loss of SAR 766,000 a year ago. Operational profit was SAR 13,992,000 against loss of SAR 29,759,000 against a year ago. Reasons of increase or decrease for quarter compared with same quarter last year: Operating revenues for the fourth quarter of 2017, amounted to SAR 75.1 million, increased by 62.3% compared to SAR 46.3 million in the same quarter of last year. This was mainly due to an increase by 61.1% in the wholesale business, whereby KSA increased by 69.6% and Egypt increased by 48.7%. Operating income for the fourth quarter of 2017 compared to an operating loss in the same quarter of last year due to higher gross profit and lower operating expenses. The increase in net income was due to higher gross profit and lower operating expenses in the fourth quarter of 2017, partially offset by a large one off foreign exchange gain of SAR 44.2 million in the same quarter of last year. Excluding the one off gain of last year, net income for the fourth quarter of 2017 was higher than last year by SAR 47.6 million. The basic earnings per share based on the profit attributable to shareholders of the Company for the fourth quarter of 2017, was SAR 0.06 as against loss of SAR 0.02 in same quarter of last year. For the year, the company reported net profit was SAR 31,544,000 or SAR 0.73 per share against SAR 71,952,000 or SAR 1.67 per share a year ago. Operational profit was SAR 75,268,000 against SAR 68,001,000 against a year ago. Reasons of increase or decrease for period compared with same period last year: Operating revenues of SAR 355.4 million for the year ended 31 December 2017 declined by 12.3% when compared to SAR 405.4 million for the last year. This was mainly due to 34.3% decline in Egypt revenues due to Egyptian Pound devaluation, when converted to Saudi Riyal from Egyptian Pound. The devaluation of Egyptian Pound took place in November 2016 and affected the full year of 2017. Operating income increased 10.7% due to lower operating expenses. Net income was lower mainly due to a large one off foreign exchange gain of SAR 59.8 million in the last year. Excluding the one off gain of last year, net income for 2017 was higher than last year by SAR 19.4 million. The book value per share as at December 31, 2017 was SAR 9.45 compared to SAR 9.36 as at 31 December 2016.