Saudi Advanced Industries Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 6.04 | 5.48 | 10.218 | 10.54 | -42.694 |
| Total Profit (Loss) | 6.04 | 5.48 | 10.218 | 10.54 | -42.694 |
| Profit (Loss) Operational | 4.53 | 4.35 | 4.137 | 7.57 | -40.158 |
| Net Profit (Loss) after Zakat and Tax | 4.13 | 4.16 | -0.721 | 5.96 | -30.704 |
| Total Comprehensive Income | 43.34 | 53.08 | -18.349 | -25.41 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 824.97 | 812.66 | 1.514 |
| Profit (Loss) per Share | 0.08 | 0.08 | |
| 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 decrease in net profit for current quarter compared to the same quarter of the previous year is due to:
- Increase in Financial costs and Zakat expenses and Increase in General and administrative expenses and decrease in other income, although there is increase in revenues due to increase in company shares from subsidiaries profits, although decrease in dividends distribution during current quarter compared to the same quarter of the previous year. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | The decrease in net profit for current quarter compared to the previous quarter is due to:
-Decrease in income due to decrease in company shares from subsidiaries profits and decrease in dividends distribution and Increase in Financial costs and other expenses, although there is decrease in General and administrative expenses and decrease in Zakat expenses during current quarter Compared to the previous quarter taking into account that Q4 2018 (previous quarter) report has not issued. However, a 2018 financial year-end report used to calculate by subtracting from Q4 2018 (previous quarter). |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | Reclassifying and presenting profits from sales of financial assets at fair value with compared period for the amount SAR 947 thousand on revenue and other expenses to comprehensive Income Statement to be in alignment with the classification and presentation with current period. This affected by decreasing net profit for compared period with same amount and increased in comprehensive income with same amount. |
| Additional Information | Total comprehensive income for the current quarter reached SR 43.34 million compared to 53.08 million for the same quarter of the previous year with a decrease of 18.34% due to decrease in valuation of the fair value reserve for the financial assets for the current quarter compared to the same quarter of the previous year, versus losses reached (25.41) million for the previous quarter Due to increase in valuation of the fair value reserve for financial assets for the current quarter compared to the previous quarter.
Total shareholders ' equity (no minority interest) as at the end of current quarter amount 824.97 million compared to amount 812.66 million at the end of the same quarter of the previous year, with an increase of 1.51%. |
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