Reasons of increase (decrease) for quarter compared with same quarter last year |
The decrease in net Income for the current quarter as compared to the corresponding quarter of the previous year is due to: 1-Increase in the cost of good sold in the company in Saudi Arabia due to increase in raw material prices. 2-Increase in the cost of good sold in the company in Egypt due to increase raw material prices and increase in Utilities prices 3-Increase in the Discounts in both Saudi Arabia and Egypt. 4. The net income in Q2 2017 include no recurring income amounted to SR 2.1 million 5-Increase sales and distribution expenses in Saudi Arabia due to increased promotional activities and new products. |
Reasons of increase (decrease) for period compared with same period last year |
The Decrease in Profit for the current period as compared to the corresponding period of the previous year is due to: 1-Increase in the cost of good sold in the company in Saudi Arabia due to increase in raw material prices. 2-Increase in the cost of good sold in the company in Egypt due to increase raw material prices and increase in Utilities prices 3-Increase in the Discounts in both Saudi Arabia and Egypt. 4- Last year net income include no recurring income amounted to SR 3.3 million. 5-Increase sales and distribution expenses in Saudi Arabia due to increased promotional activities and new products. |
Reasons of increase (decrease) for quarter compared with previous quarter |
The decrease in net Income for the current quarter compared to the previous quarter is due to: 1. Decrease in local sales because of the effect of the Holy Ramadan and Eid Holiday during second quarter of the current year. 2-Increase in the cost of good sold in the company in Saudi Arabia due to increase in raw material prices. 3-Increase in the cost of good sold in the company in Egypt due to increase raw material prices. 4-Increase sales and distribution expenses in Saudi Arabia due to increased promotional activities and new products. |
Reclassifications in quarterly financial results |
Certain figures of the previous year have been restated and regrouped to conform to the presentation for the current year presentation as per International Financial Reporting Standard 9 & 15 as endorsed in the Kingdom of Saudi Arabia. For more information, refer note 2-Important Financial policies for the period ended 30-06-2018. |
Other notes |
1. Net sales increase by 6.6 % to SR 204.9 million during the second quarter as compared to SR192.3 million in the same quarter of the previous year and decrease by 6.3 % as compared to SR 218.7 million of previous quarter in the current year . 2. Net sale increase by 7 % to SR 423.6 million for the period as compared to SR 395.8 million in the same period of the last year. 3. Shareholders equity (no non-controlling interest) decrease by 10.1 % to SR 442.1 million of 30/6/2018 compared to SR 491.7 million of 30 /6/ 2017 4. Total comprehensive income decrease by 36.4 % to SR 7.8 million as compared to SR 12.3 million in the same quarter of the previous year and decrease by 54.1 % as compared to SR 17 million of the previous quarter in the same year. 5. Total comprehensive income decrease by 23.4% from SR 24.9 million to SR 32.5 million as compared to same period of the previous year. 6- The external auditors have reviewed the interim consolidated financial statement and their conclusion is unmodified. |
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