| Reasons of annual financial results |
The reasons for increase in net profit is due to increase in Other Income mainly because of non-recurring gain recognized on claim of expropriated land and premises by National Water Company, and increase in fair value gain on Derivative Financial Instruments, Despite increase in financial charges, The reasons for decrease in gross and operating profits is due to decrease in sales value on account of drop in average selling price of paper products, Increases in energy cost and fixed cost per ton due to shut down of PM2 for upgrade, Increase general and administrative expenses, despite decrease in depreciation expenses due to revision of useful life of plant and machinery after upgrade and decrease in other expenses. |
| Reclassifications in annual financial results |
Certain figures of previous year have been reclassified to be in line with the current year presentation. |
| Other notes |
Total sales during the current period amounted SR 634.504 Million compared to SR 681.170 Million in the corresponding period of previous year, resulting in a decrease of 6.87%. Total equity during the current period reached SR 712.859 Million compared to SR 658.005 Million in the corresponding period of previous year, resulting in an increase of 8.34%, (and there is no minority rights). |
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