Qassim Cement Co. announces the interim financial results for the period ending on 30-06-2018 (Six Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 18,379,222 | 53,201,666 | -65.45 | 57,175,776 | -67.85 |
| Gross profit (loss) | 22,009,280 | 56,429,200 | -61 | 62,635,103 | -64.86 |
| Operational profit (loss) | 15,619,172 | 49,007,312 | -68.13 | 54,592,916 | -71.39 |
| All figures are in Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 75,554,998 | 133,360,901 | -43.35 |
| Gross profit (loss) | 84,644,383 | 144,608,592 | -41.47 |
| Operational profit (loss) | 70,212,088 | 129,940,993 | -45.97 |
| Earning or loss per share, Riyals | 0.84 | 1.48 | - |
| All figures are in Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | Decrease in net income for current quarter compared with same quarter for last year due to decrease in sales volume and value, driven by lower demand of cement and the huge decrease in average selling price, in addition to increase in average cost of ton of cement sold, zakat expense, despite increase in other income, decrease in general & admin expenses and selling & marketing expenses. |
| Reasons of increase (decrease) for period compared with same period last year | Decrease in net income for current period compared with same period for last year due to decrease in sales volume and value, driven by lower demand of cement and the huge decrease in average selling price, in addition to increase in average cost of ton of cement sold and zakat expense, despite the increase in other income. |
| Reasons of increase (decrease) for quarter compared with previous quarter | Decrease in net income for current quarter compared with the previous quarter due to decrease in sales volume and value, driven by lower demand of cement, seasonal reasons (Holy Ramadan and Eid Al-Fitr) and the huge decrease in average selling price, in addition to increase in average cost of ton of cement sold. Despite decrease in selling & marketing expenses, general & admin expenses, increase in other income and decrease in zakat expense. |
| Reclassifications in quarterly financial results | Some comparative figures in the statement of cash flows have been reclassified to tally with the current presentation. |
| Other notes | A) Total sales during the current quarter amounted SAR 88,052,539 compared SAR 135,097,387 for the corresponding quarter of the previous year, in a decrease of 34.82%. B) Total sales during current period amounted SAR 235,962,246 against amount of SAR 326,219,147 for same period of previous year in a decrease of 27.67%. C) Total comprehensive income during the current quarter amounted to SAR 18,379,222 compared to SAR 53,546,154 for the corresponding quarter of the previous year, in a decrease of 65.68%. And compared to SAR 57,175,776 for the previous quarter, in a decrease of 67.85%. D) Total comprehensive income during the current period amounted to SAR 75,554,998 compared to SAR 133,846,951 for the corresponding period of the previous year, in a decrease of 43.55%. E) Total shareholders equity (Minority interests are not available) amounted SAR 1,689,260,320 by end of June 2018 against amount of SAR 1,738,459,850 as of end of June 2017 in a decrease of 2.83%. F) Type of the external auditor report is Unmodified report. |
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