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Saudi Company for Hardware announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

SACO 4008 42.45% 37.75 11.25

Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 340.17 322.91 5.345 343.03 -0.833
Total Profit (Loss) 64.44 61.14 5.397 54.93 17.312
Profit (Loss) Operational 27.8 27.25 2.018 24.14 15.161
Net Profit (Loss) after Zakat and Tax 24.43 22.79 7.196 20.38 19.872
Total Comprehensive Income 24.43 22.79 7.196 20.38 19.872
All figures are in (Millions) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 1,004.86 1,026.08 -2.068
Total Profit (Loss) 173.19 199.8 -13.318
Profit (Loss) Operational 69.49 104.16 -33.285
Net Profit (Loss) after Zakat and Tax 59.4 93.91 -36.747
Total Comprehensive Income 59.4 93.91 -36.747
Total Share Holders Equity (after deducting minority equity) 596.35 558.51 6.775
Profit (Loss) per Share 2.48 3.91
All figures are in (Millions) Saudi Arabia, Riyals
Element List Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The increase in net profit is due to: - Increase in revenues due to increase in the number of stores from 28 to 30 stores. - Increase in the revenue of the most of Categories. - Decrease in the financial Charges - Increase in the Other Income -Slight Decrease in the Zakat Expenses
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The increase is due to: -Improvement in the Gross Margin that had positive impact in the Gross Profit increase -Decrease in Financial Charges - Increase in the Other Income
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The decrease in net profit is due to: - Decrease in revenues in the first and second quarters of the year that caused decrease in the gross profit. - Increase in the G&A expenses - Increase in the Zakat Expenses
Type of the external auditor's opinion Unmodified opinion
External auditor's report containing reservation None
Reclassifications in quarter financial result comparative period figures has been reclassified to conform with current period classification numbers
Additional Information Medscan's sales for the current quarter amounted to SR 5.61 million compared to SAR 4.47 million for the same quarter last year with an increase of 25.50% and its net profit for the current quarter was SAR 0.68 million compared to SR 1.03 million for the same quarter last year with a decrease of 33.98%.

Medscan's sales for the period amounted to SR 16.68 million compared to SAR 12.54 million for the same period last year with an increase of 33.01% and its net profit for the current period was SAR 2.57 million compared to SR 3.29 million for the same period last year with a decrease of 21.88%

SACO announced on 5/7/2018 the opening of its 30th Store in Skaka Al Jouf and also annouced on 23/7/2018 the completion of opening 5 specialized Technology Departments in its all Five SACO World Stores that are existing in all main cities of Kingdom of Saudi Arabia.

The Company has adopted the International Financial Reporting Standards as of January 1, 2017. Accordingly, changes have been made to the Company's financial statements on a number of items in the measurement, recognition, presentation and disclosure method for the current and comparative periods in accordance with the accounting policies adopted in accordance with the standards International Financial Report approved in Saudi Arabia.

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