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Bawan Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

Default Company 1302.O 0.00% 0.00 0.00

Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 443,814 506,942 -12.452 465,771 -4.714
Total Profit (Loss) 40,108 62,886 -36.221 39,725 0.964
Profit (Loss) Operational 5,021 29,139 -82.768 5,497 -8.659
Net Profit (Loss) after Zakat and Tax -4,125 23,294 - 1,599 -
Total Comprehensive Income -4,146 22,648 - 1,238 -
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 1,431,937 1,532,593 -6.567
Total Profit (Loss) 136,435 184,990 -26.247
Profit (Loss) Operational 29,359 76,842 -61.793
Net Profit (Loss) after Zakat and Tax 11,489 53,782 -78.637
Total Comprehensive Income 11,197 53,533 -79.083
Total Share Holders Equity (after deducting minority equity) 827,721 826,566 0.139
Profit (Loss) per Share 0.19 0.9
All figures are in (Thousands) 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 company's loss during the current quarter is due to a decrease in revenues affected by low demand and intense competition which led to a decrease in the gross profit and gross profit margin, along with other income. Whilst income tax also decreased, operating expenses, financing charges and Zakat expenses increased.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The company's loss during the current quarter is due to an increase in operating expenses, financing charges, Zakat expenses and a decrease of the revenue and 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 a decrease in revenues affected by low demand and intense competition which led to a decrease in gross profit, and gross profit margin along with other income. Whilst operating expenses and income tax also decreased, financing charges and Zakat expenses increased.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Certain comparative figures have been restated to conform to the presentation for the current period.
Additional Information As a result of the decline in demand and the intensity of competition, the current quarter's revenues decreased compared to the same quarter of the previous year largely due to a decrease in quantity sold and average selling prices in the concrete and metal products, and a decrease in average selling prices in the electrical sector.

The current period's revenues were also affected by low demand and intense competition compared to the same period of the previous year, which mainly led to a decrease in quantity sold in the metal, electrical and concrete products, and a decrease in average selling prices in the electrical sector.

The decline in the revenues of the electric and concrete sectors also led to losses in those sectors, which negatively affected the profits for the period compared to the same period of the previous year.

Non-controlling interests during the current quarter reached at a loss of SR 187 thousand compared to a profit of SR 4.1 million for the same quarter last year, a decrease of 104.6%.

Non-controlling interests during the current period reached at a loss of SR 2.6 million compared to a profit of SR 9.8 million for the same period last year, a decrease of 126.2%.

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