Al Abdullatif Industrial Investment Co. announces its Annual financial results for the period ending on 2018-12-31
Element List | Current Year | Previous Year | %Change | ||
---|---|---|---|---|---|
Sales/Revenue | 621.19 | 668.41 | -7.064 | ||
Total Profit (Loss) | 57.97 | 81.84 | -29.166 | ||
Profit (Loss) Operational | 24.21 | 45.55 | -46.849 | ||
Net Profit (Loss) after Zakat and Tax | 8.03 | 35.21 | -77.193 | ||
Total Comprehensive Income | 11.85 | 32.25 | -63.255 | ||
Total Share Holders Equity (after deducting minority equity) | 1,184.83 | 1,213.61 | -2.371 | ||
Profit (Loss) per Share | 0.1 | 0.43 | |||
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Explanation |
---|---|
Reason for increase (decrease) in net profit for current year compared to last year | The reasons for the decrease in the gross profit, operating profit and net profit for the year during fiscal year 2018 compared to fiscal year 2017 are as follows: 1. Decrease in sales. 2. High cost of materials attributed to sales. 3. generally the increase in cost of sales attributed to sales. 4. The increase in the value of administrative expenses in addition to the increase in the proportion of those expenses to sales. 5- Decrease in the value of investment profits 6. The increase in Zakat provision. 7.The reasons for the increase in the total value of (comprehensive income) are due to the revaluation profits of the fair value of the investments and the actuarial gain on the end of service benefits. |
Type of the external auditor's opinion | Unmodified opinion |
Reclassifications in annual financial results | Certain figures for the prior period have been reclassified to conform with presentation in the current period |
Additional Information | A. The total income during the current period amounted to SR 11.85 million compared to SAR 32.25 million for the same period of 2017, a decrease of 63.27%. B. There are no minority rights in the financial statements. C. Net sales amounted to SR 621.19 million during the current period, compared to SR 668.41 million for the same period of 2017, a decrease of 7.06%. D. Total shareholders' equity during the current period amounted to SR 1,184.83 million compared to SR 1213.61 million for the same period last year, a decrease of 2.37%. |
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