| Reasons of increase (decrease) for quarter compared with same quarter last year |
Increase in net loss is mainly attributable to lower average sale price and decreased sales volume as a result of subdued market demand for cement and fierce competition, in addition to the increase in production cost due to low production capacity utilization, and increase in finance costs despite the decrease in zakat provision. |
| Reasons of increase (decrease) for period compared with same period last year |
The net loss is mainly attributable to lower average sales price and the decrease in sales volume and as a result of subdued market demand for cement, in addition to the increase in production cost due to low production capacity utilization, decrease in other income and increase in finance costs |
| Reasons of increase (decrease) for quarter compared with previous quarter |
Increase in net loss is mainly attributable to lower average sale price and decreased sales volume as a result of subdued market demand for cement, fierce competition and Ramadan & Eid holiday, in addition to the increase in production cost due to low production capacity utilization and increase in finance costs despite the decrease in zakat provision.. |
| Reclassifications in quarterly financial results |
Comparative figures are reclassified, wherever necessary. |
| Other notes |
Total net revenue during the current quarter declined to SAR 55.3 million compared to SAR 78 million for the same quarter last year, a decrease of 29%, and compared to SAR 97 million last quarter, a decrease of 43%. While the net revenue for the current period declined to SAR 152.4 million as compared to SAR 189.4 million for the corresponding period of last year, a decrease of 20%. The gross loss for the current quarter amounted to SAR 13.5 million compared to a gross profit of SAR 13.3 million for the corresponding quarter of last year, and compared to a gross profit of SAR 9.7 million for the previous quarter of current year. The gross loss of the current period is SAR 3.8 compared to gross profit of SAR 40.8 million in the corresponding period. The operating loss for the current quarter amounted to SAR 22.9 million compared to a operating profit of SAR 3.9 million for the corresponding quarter of last year. and compared to an operating loss of SAR 0.7 million for the previous quarter of current year, an increase of 3264%. The operating loss of the current period is SAR 23.6 million compared to operating profit of SAR 21.3 million in the corresponding period. The net loss for the current quarter increased to SAR 31.7 million compared to a net loss of SAR 4.2 million for the corresponding quarter of last year, an increase of 651%, and compared to a net loss of SAR 10.2 million for the previous quarter of current year, an increase of 212%. The net loss of the current period is SAR 41.9 million compared to net profit SAR 6.99 million in the corresponding period. Loss per share for the current period was SAR 0.25 compared to an income per share of SAR 0.04 for the corresponding period of last year. Comprehensive income/loss for the quarter and for the period is equivalent to net income/loss of the comparative quarters and periods. Earnings before Interest, Taxes, Zakat, Depreciation and Amortization (EBITDA) for the current quarter amounted to SAR 3.4 million compared to SR 31.9 million last year, a decrease of 89%, compared to SAR 25.1 million during the previous quarter of current year, a decrease of 86%. Earnings before Interest, Taxes, Zakat, Depreciation and Amortization (EBITDA) for the current period amounted to SAR 28.5 million compared to SAR 79 million for the same period last year, a decrease of 64%. Total shareholders' equity (there are no non-controlling Interests) as at 30 June 2018 amounted to SAR 1,976 million as compared to SAR 2,029 million as at 31 December 2017, a decrease of 0.03%. External Auditor reviewed the financial statements and issued unmodified report. |
Comments