Saudi Ceramic Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )

18 July 2023 05:39 AM

Default Company 2040.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	253,045	338,828	-25.32	368,890	-31.4
Gross Profit (Loss)	63,210	105,547	-40.11	90,122	-29.86
Operational Profit (Loss)	1,824	35,748	-94.9	20,934	-91.29
Net Profit (Loss) after Zakat and Tax	33,294	37,969	-12.31	14,708	126.37
Total Comprehensive Income	33,689	37,968	-11.27	14,708	129.05
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	621,935	734,981	-15.38
Gross Profit (Loss)	153,332	227,535	-32.61
Operational Profit (Loss)	23,087	89,062	-74.08
Net Profit (Loss) after Zakat and Tax	48,002	89,263	-46.22
Total Comprehensive Income	48,397	89,352	-45.84
Total Share Holders Equity (after Deducting Minority Equity)	1,760,247	1,702,401	3.4
Profit (Loss) per Share	0.6	1.12
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 the decrease in sales, specifically sales of the tile sector, the negative impact of tile prices and the competition witnessed by the market with the continued decline in demand. The current quarter compared to the same quarter of the previous year was also affected by the increase in production costs, which negatively affected the total profit. Higher interest rates also increased the financing costs. However, the Company achieved capital gains from non operating activities.
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 reason for the increase in net profit during the current quarter compared to the previous quarter is because the the Company achieved capital gains from non operating activities. The current quarter witnessed a decrease in operating profit as a result of the decrease in sales during the quarter compared to the previous quarter, specifically the decrease in tile sales. The current quarter also witnessed a decrease in selling and marketing expenses, general and administrative expenses compared to the previous quarter.
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 decrease in profits for the current period compared to the same period of the previous year is the decrease in sales revenue as a result of decrease in quantities sold in the current period, in addition to the increase in the costs of some production inputs and the increase in financing costs. However, during the current period the Company achieved capital gains from non operating activities.
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	None
Reclassification of Comparison Items	None

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