All figures are in (Thousands) Saudi Arabia, Riyals
Element
EXPLAINATION
Reasons of annual financial results
Reasons of decrease is due to lower sales , lower sales prices due to strong competition from domestic and foreign markets, also due to a decline in domestic and external purchasing power as well as bear the burden of fixed operating costs unutilized despite the rationalization of sales and administrative expenses
Reclassifications in annual financial results
Comparative figures for the current year has been adjusted to demonstrate the effect of the change in fair value of hedging agreements to cover the risk of changes in the exchange rate and the change in the interest rates by an amount of 24.1 million SR for 2015, also to recognize the Group's share in the losses of associate company of 2.2 million SR , to have as on January 1, 2016 after the adjustment an amount of 13.87 million SR of accumulated losses, and net losses for the year ended December 31 2015 by an amount of 54.57 million SR .Accordingly, Earnings per share from the net loss for the same period to become (1.46) instead of (0.76).
Other notes
Total sales for the current period is 608.95 million SR compared to the corresponding period 812.37 million SR by a decrease of 25% , also Shareholders' equity amounted 301.76 million SR for the current period compared with the corresponding period of the previous year 396.49 million SR, by a decrease of 22% (no minority rights)
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