Batic Investments and Logistics Co. announces the interim consolidated financial results for the period ending on 30-06-2019 (Six Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 117,781,564 | 128,120,844 | -8.069 | 114,086,072 | 3.239 |
| Gross Profit (Loss) | 16,154,260 | 19,826,081 | -18.52 | 16,884,029 | -4.322 |
| Operational Profit (Loss) | 5,059,795 | 5,814,957 | -12.986 | 4,656,575 | 8.659 |
| Net Profit (Loss) after Zakat and Tax | 1,796,925 | 1,937,923 | -7.275 | 1,937,247 | -7.243 |
| Total Comprehensive Income | 1,796,925 | 1,937,923 | -7.275 | 1,937,247 | -7.243 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 231,867,636 | 255,567,429 | -9.273 |
| Gross Profit (Loss) | 33,038,289 | 38,122,760 | -13.337 |
| Operational Profit (Loss) | 9,716,370 | 12,028,895 | -19.224 |
| Net Profit (Loss) after Zakat and Tax | 3,734,172 | 5,886,555 | -36.564 |
| Total Comprehensive Income | 3,734,172 | 5,886,555 | -36.564 |
| Total Share Holders Equity (after Deducting Minority Equity) | 374,737,414 | 358,916,742 | 4.407 |
| Profit (Loss) per Share | 0.12 | 0.2 | |
| 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 decrease in net income for the second quarter of 2019 compared to the same quarter of 2018 of 7.28 % SR 140,998 is mainly due to:
- The decrease in gross profit of SAR 3,671,821 due to the decrease in revenue of current quarter by 8.07 % compared to the same quarter last year, which is mainly driven by decrease in the revenue from Feeding ATMs sector by SR 12,991,815 and Secured money transfer sector by SR 4,506,559. - The increase in finance costs by SR 450,882 as a result of a loan financed from the bank to buy a commercial building for Batic and its’ subsidiaries in Riyadh City. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The decrease in net income for the second quarter of 2019 compared to the previous quarter by 7.24 % SR140,322 is mainly due to
- The Increase in expenses related to provision of debit balances s by SR 603,400 compared to previous quarter. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The decrease in net income during the Current period of 2019 comparing with the same period last year 2018 of 36.56% SR 2,152,383 is mainly due to:
- The decrease in gross profit by SAR 5,084,471 due to the decrease in revenue of current Period by 9.27% compared to the same period last year, which is mainly driven by decrease in the revenue from Feeding ATMs sector by SR 26,482,857 and Secured money transfer sector by SR 9,192,486 .
- The increase in finance costs by SR 880,202 as a result of a loan financed from the bank to buy a commercial building for Batic and its’ subsidiaries in Riyadh City |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Prior period figures have been re-classified to conform to the presentation in the current period. |
| Additional Information | -The profit per share was calculated for the current quarter, and the previous periods based on the updated number of shares, that is to reflect the increase in capital from 24m to 30m share through the bonus shares approved on April 29 2018. |
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