Bawan Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

08 May 2023 07:26 AM

Default Company 1302.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	944,415	950,425	-0.63	950,539	-0.64
Gross Profit (Loss)	100,105	124,732	-19.74	113,437	-11.75
Operational Profit (Loss)	46,641	66,610	-29.98	52,153	-10.57
Net Profit (Loss) after Zakat and Tax	34,532	50,349	-31.41	29,826	15.78
Total Comprehensive Income	34,532	50,349	-31.41	41,952	-17.69
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	859,021	789,862	8.76
Profit (Loss) per Share	0.58	0.84
All figures are in (Thousands) 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 decrease in net profit during the current quarter compared to the same quarter of the previous year is mainly due to the following: - The decrease in net profit of the metal and wood industries sector, mainly due to the decrease in profit margin. - Realizing loss in the concrete industries sector by amount of SAR 1.2 million, mainly due to the decrease in quantities sold, which led to the decrease in profit margin - The increase in the finance cost by amount of SAR 6 million due to the increase in the cost of borrowing associated with the increase in SIBOR rates. This decrease comes despite the following: - The increase in net profit of the electrical industries sector, as the sector achieved a net profit of SAR 24.9 million during the current quarter compared to profit of SAR 5.1 million for the same quarter of the previous year, mainly due to the increase in quantities sold and average selling prices, which led to the improvement in profit margin. - The decrease in the operational and Zakat expenses. - The increase in other income and the profit of investment in financial assets at fair value through profit or loss.
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 main reasons for the increase in net profit during the current quarter compared to the previous quarter is due to the following: - The increase in net profit of the electrical industries sector, as the sector achieved a net profit of SAR 24.9 million during the current quarter compared to profit of SAR 9.7 million for the previous quarter, mainly due to the increase in quantities sold, which led to the improvement in profit margin. - The increase in net profit of the plastic industries sector, as the sector achieved a net profit of SAR 6.5 million during the current quarter compared to profit of SAR 4.1 million for the previous quarter, mainly due to the increase in quantities sold, which led to the improvement in profit margin. - The decrease in the operational and Zakat expenses. - The decrease in the finance cost by 12% as a result of the decrease in the company's total debt. - The increase in other income and the profit of investment in financial assets at fair value through profit or loss. This increase comes despite the following: - The decrease in net profit of the metal and wood industries sector, mainly due to the decrease in profit margin. - Realizing loss in the concrete industries sector by amount of SAR 1.2 million, mainly due to the decrease in quantities sold and average selling prices, which led to the decrease in profit margin
Statement of the type of external auditor's report	Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	N/A
Reclassification of Comparison Items	N/A
Additional Information	Non-controlling interests share during the current quarter amounted to a net profit of SAR 3.2 million as compared to a profit of SAR 3.2 million for the same quarter of the previous year.

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