Saudi Vitrified Clay Pipes Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

11 August 2022 08:08 AM

SVCP 2360 8.78% 43.35 3.50

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	12.75	22.66	-43.73	18.54	-31.23
Gross Profit (Loss)	-4.57	4.41	-	2.89	-
Operational Profit (Loss)	-9.82	-0.78	1,158.97	1.98	-
Net Profit (Loss) after Zakat and Tax	-10.48	-1.43	632.87	1.28	-
Total Comprehensive Income	-10.48	-1.43	632.87	1.28	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	31.29	47.41	-34
Gross Profit (Loss)	-1.68	11.54	-
Operational Profit (Loss)	-7.83	0.78	-
Net Profit (Loss) after Zakat and Tax	-9.21	-1.21	661.16
Total Comprehensive Income	-9.21	-1.21	661.16
Total Share Holders Equity (after Deducting Minority Equity)	267.73	277.77	-3.61
Profit (Loss) per Share	-0.61	-0.08
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the increase in net losses during the current quarter compared to the same quarter of the previous year is due to the decrease in sales as a result of the decrease in the volume of demand for pipes in general due to the slowdown of projects and the increase of cost of sales
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	The increase in net losses during the current quarter compared to the previous quarter is due to the decrease of sales and increase costs cost of sales.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason for the increase in net losses during the current period compared to the same period of the previous year is due to the decrease of sales as a result of the decrease in the volume of demand for pipes in general due to the slowdown of projects and increase in the cost of sales
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	N/A
Additional Information	The company achieved a margin of losses during the second quarter of 2022 due to decrease of sales and production volume, which led to a significant increase in production costs due to fixed cost and high costs of some production inputs.

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