Element List |
Explanation |
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to |
The reason for profit during the current quarter is due to dividend distributions for the first half of 2019 from the Saudi Industrial Investment Company (an investor company) for SR 11,395,860 |
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to |
The reason for profit during the current quarter is due to dividend distributions for the first half of 2019 from the Saudi Industrial Investment Company (an investor company) for SR 11,395,860 |
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to |
The increase in net profit during the period compared to the corresponding period of the previous year is due to the company receiving the dividends of the first half of 2019 from the Saudi Industrial Investment Company (an investor company) for SR 11,395,860 |
Basis of the External Auditor's Opinion |
Qualified opinion |
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion |
As shown in Note 6 to the condensed interim financial statements, investments in associates include an investment in Arab Slavonic Limited Company, which recorded a provision for impairment of the entire investment value. The accumulated losses of the investee company exceeded the book value of the investment and we were unable to obtain Enclosed with the appropriate audit evidence regarding the Liquidator's Liquidation Report of the Arab Salophone Limited Company (an associate) clarifies the financial position of the liquidation of the associate as at 30 June 2019 and we have not been able to verify the potential liabilities that may arise from the non- The company's bank guarantee for the associate amounting to SR 5,09 million as shown in Note (10) and therefore we could not determine what may entail significant adjustments and the effects of the interim financial statements of the company shortcut. |
Additional Information |
The provision for zakat is not recognized this quarter and the entire provision will be recognized at the end of the year |
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