Tabuk Cement Co. announces its Annual financial results for the period ending on 2018-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 149.44 | 166.61 | -10.305 | ||
| Total Profit (Loss) | -23.59 | 9.25 | - | ||
| Profit (Loss) Operational | -44.9 | -9.58 | 368.684 | ||
| Net Profit (Loss) after Zakat and Tax | -98.94 | -23.76 | 316.414 | ||
| Total Comprehensive Income | -91.29 | -21.89 | 317.039 | ||
| Total Share Holders Equity (after deducting minority equity) | 1,161.4 | 1,151.08 | 0.896 | ||
| Profit (Loss) per Share | -1.1 | -0.26 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current year compared to last year | The reason for the increase in losses during the current year compared to the previous year is due to:
1. The decrease in sales revenues for the current year compared to the previous year due to the sharp drop in selling prices which related to the intensity of competition in the domestic market. 2. Increase in cost of sales during the current year compared to the previous year due to the increase in the quantity of sales. 3. The current year charged by other expenses with total value of approximately SR 28.57 million represented by: a decline in properties (projects under construction) of approximately SR 4.5 million, a decrease in the value of intangible assets amounting to SR 7.4 million, a decrease in the value of inventories amounting to approximately SR 11.44 million, properties retirement with a value of approximately SR 4.97 million and a decrease in the value of other receivables amounting to approximately SR 0.26 million. 4. No other revenue. 5. Increase in financing fees. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in annual financial results | Some comparative figures have been reclassified to fit the current view. |
| Additional Information | Despite the losses, total shareholders' equity (non-minority interest) at the end of the current year amounted to SR 1161.4 million compared to SR 1151.08 million, an increase of 0.90% over the previous year. This is mainly due to revaluation gains amounted SR 102 million from investments in equity instruments at fair value. |
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