Al Kathiri Holding Co. announces its Annual financial results for the period ending on 31-12-2018
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 50,793,643 | 42,982,384 | 18.173 | ||
| Total Profit (Loss) | 16,173,188 | 11,772,482 | 37.381 | ||
| Profit (Loss) Operational | 9,982,497 | 7,808,643 | 27.839 | ||
| Net Profit (Loss) after Zakat and Tax | 9,304,248 | 6,648,200 | 39.951 | ||
| Total Comprehensive Income | 9,304,248 | 6,648,200 | 39.951 | ||
| Total Share Holders Equity (after deducting minority equity) | 55,180,935 | 45,876,687 | 20.28 | ||
| Profit (Loss) per Share | 2.76 | 2.24 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current year compared to last year | The net profit for the current year is higher than the previous year A) Low production costs of Ready mix. B) Non-recurring expense expenses calculated in 2017 shall not be calculated. C ) Also because the comparison period of 2017 represents nine months and twelve days. |
| Type of the external auditor's opinion | Unmodified opinion |
| External auditor's report containing reservation | None |
| Reclassifications in annual financial results | Certain comparative figures have been reclassified to comply with the current year presentation of the financial statements. |
| Additional Information | 1. Revenues amounted to SR 50,793,643 compared to SR 42,982,384 for the previous year, an increase of 18.17%. 2. Gross profit reached SR 16,173,188 compared to SR 11,772,482 for the previous year, an increase of 37.38%. 3. Operating profit amounted to SR 9,982,497 compared to RO 7,808,643 for the previous year, an increase of 27.84%. 4 - Net profit after Zakat and tax amounted to 9,304,248 riyals, compared to 6,648,200 riyals for the previous year, an increase of 39.95%. 5. Total gross income amounted to SR 9,304,248 compared to SR 6,648,200 for the previous year, an increase of 39.95%. 6 - Earnings per share amounted to 2.76 riyals compared to 2.24 riyals for the previous year. 7. Total shareholders' equity (excluding minority interests) reached SR 55,180,935 compared to SR 45,876,687 for the previous year, an increase of 18.17%. 8. The annual consolidated financial statements for the current year 2018 represent the first annual financial statements prepared in accordance with the International Financial Reporting Standards adopted in the Kingdom of Saudi Arabia and other issuances and standards approved by the Saudi Organization for Certified Public Accountants. 9 - Earnings per share is calculated on the basis of net income for the period divided by the weighted average number of shares outstanding at the end of the period, which for the period from 1 January to 15 August 2018 the number of 3,139,500 ordinary shares and the period from 16 August 2018 to 31 December 2018 number 3,767,400 shares Ordinary, while the period from 20 March 2017 to 23 May 2017 m number of 2,730,000 shares and from the period from 24 May 2017 to 31 December 2017 the number of 3,139,500 shares. |
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