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

07 August 2019 07:56 AM

CHEMICAL 2230 106.57% 8.18 4.22

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	778.4	653.8	19.057	842.4	-7.597
Gross Profit (Loss)	119.8	93.6	27.991	114.3	4.811
Operational Profit (Loss)	49.3	38.8	27.061	57.4	-14.111
Net Profit (Loss) after Zakat and Tax	30.9	27.8	11.151	39.3	-21.374
Total Comprehensive Income	30.9	27.8	11.151	39.3	-21.374
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	1,620.8	1,445	12.166
Gross Profit (Loss)	234.13	215.1	8.847
Operational Profit (Loss)	106.7	110.1	-3.088
Net Profit (Loss) after Zakat and Tax	70.2	84.2	-16.627
Total Comprehensive Income	70.2	84.2	-16.627
Total Share Holders Equity (after Deducting Minority Equity)	1,592.7	1,567.7	1.594
Profit (Loss) per Share	1.11	1.33
All figures are in (Millions) 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 increase in net profit is mainly due to the increase in sales.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The decrease in net profit is mainly due to the decrease in sales and operational expenses.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to	The decrease in net profit is mainly due to the commencement of commercial production of two production lines of AJA's plant (subsidiary company) and charging all costs of the production of the two lines to income statement for the period. It is expected to cover such costs gradually through the increase in sales. In addition, to the decrease in sales of explosives which have higher profit margin, despite the growth in pharmaceutical sales which have lower profit margin, the increase in operational expenses (mainly relating to pharmaceutical sector due to the increase in sales), the increase in finance costs and expense of zakat provision.
Basis of the External Auditor's Opinion	Unmodified opinion
Reclassification of Comparison Items	Certain figures of comparatives have been reclassified to conform to the current presentation

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