Saudi Advanced Industries Co. announces its interim Financial results for the period ending on 2019-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 20.08 | 15.71 | 27.816 | 6.04 | 232.45 |
| Total Profit (Loss) | 20.08 | 15.71 | 27.816 | 6.04 | 232.45 |
| Profit (Loss) Operational | 16.65 | 14.25 | 16.842 | 4.53 | 267.549 |
| Net Profit (Loss) after Zakat and Tax | 16.37 | 14.1 | 16.099 | 4.13 | 296.368 |
| Total Comprehensive Income | -14.11 | 18.05 | - | 43.34 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 26.12 | 21.2 | 23.207 |
| Total Profit (Loss) | 26.12 | 21.2 | 23.207 |
| Profit (Loss) Operational | 21.18 | 18.6 | 13.87 |
| Net Profit (Loss) after Zakat and Tax | 20.5 | 18.26 | 12.267 |
| Total Comprehensive Income | 29.23 | 71.13 | -58.906 |
| Total Share Holders Equity (after deducting minority equity) | 810.86 | 830.71 | -2.389 |
| Profit (Loss) per Share | 0.41 | 0.37 | |
| 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 increase in net profit for current quarter compared to the same quarter of the previous year is due to:
-Increase in revenue due to increase in company shares from subsidiaries profits and increase in dividends distribution and other revenues, although there is increase in General and administrative expenses, Financial costs, and Zakat expenses 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 increase in net profit for current quarter compared to the same quarter of the previous year is due to:
-Increase in revenue due to increase in company shares from subsidiaries profits and increase in dividends distribution and other revenues and decrease in Financial costs, although there is increase in General and administrative expenses during current quarter compared to the previous quarter. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | The increase in net profit for current period compared to the similar period of the previous years is due to:
-Increase in revenue due to increase in company shares from subsidiaries profits and increase in dividends distribution, although there is increase in General and administrative expenses, Financial costs, and Zakat expenses and decrease in other revenues during current period compared to the similar period of the previous year. |
| 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 538 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 shareholders ' equity (no minority interest) as at the end of the current period amount 810.86 million compared to 830.71 million at the end of the similar period of the previous year, with a decrease of 2.39%.
The company has adopted IFRS 16 as of January 1, 2019, in which no major impact has recorded from this adoption. |
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