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Saudi Arabia Refineries Co. announces its Interim Financial Results for the Period Ending on 2019-06-30 ( Six Months )

Default Company 2030.O 0.00% 0.00 0.00
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 10,924,621 91,036 11,900.33 -388,914 -
Gross Profit (Loss) 10,924,621 91,036 11,900.33 -388,914 -
Operational Profit (Loss) 10,227,689 -492,045 - -1,020,600 -
Net Profit (Loss) after Zakat and Tax 10,227,689 -492,045 - -1,270,600 -
Total Comprehensive Income 15,712,256 99,749,687 -84.248 24,987,320 -37.119
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 10,535,707 152,168 6,823.733
Gross Profit (Loss) 10,535,707 152,168 6,823.733
Operational Profit (Loss) 9,207,089 -1,468,097 -
Net Profit (Loss) after Zakat and Tax 8,957,089 -1,718,097 -
Total Comprehensive Income 40,699,576 151,496,516 -73.134
Total Share Holders Equity (after Deducting Minority Equity) 459,975,646 517,405,806 -11.099
Profit (Loss) per Share 0.6 -0.11
All figures are in (Actual) Saudi Arabia, Riyals
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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