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Batic Investments and Logistics Co. announces the interim consolidated financial results for the period ending on 30-09-2019 (Nine Months)

BATIC 4110 -1.63% 1.81 -0.03
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 115,723,152 127,581,240 -9.294 117,781,564 -1.747
Gross Profit (Loss) 14,645,935 20,261,329 -27.714 16,154,260 -9.337
Operational Profit (Loss) 5,184,355 7,923,260 -34.567 5,059,795 2.461
Net Profit (Loss) after Zakat and Tax 2,065,217 3,728,615 -44.611 1,796,925 14.93
Total Comprehensive Income 2,065,217 3,728,615 -44.611 1,796,925 14.93
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 347,590,788 383,148,669 -9.28
Gross Profit (Loss) 47,684,224 58,384,089 -18.326
Operational Profit (Loss) 14,900,725 19,952,155 -25.317
Net Profit (Loss) after Zakat and Tax 5,799,389 9,615,169 -39.685
Total Comprehensive Income 5,799,389 9,615,169 -39.685
Total Share Holders Equity (after Deducting Minority Equity) 376,802,631 362,645,356 3.903
Profit (Loss) per Share 0.19 0.32
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 Third quarter of 2019 compared to the same quarter of 2018 of 44.61%, SR1,663,398 is mainly due to:

- The decrease in total profit of SAR 5,615,394 due to the decrease in revenue of current quarter by 9.29 % compared to the same quarter last year

- The increase in finance costs by SR 423,576 as a result of a loan borrowed 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 increase in net income for the Third quarter of 2019 compared to the previous quarter by 14.93% SR 268,292 is mainly due to

- Increase in operating profit by SR 124,560 due to decrease in general and administrative expenses by 14.72%

- Increase in other income by SR 361,499

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 39.69% SR 3,815,780 is mainly due to:

- The decrease in total profit by SAR 10,699,865 due to the decrease in revenue of current Period by 9.28% compared to the same period last year.

- The increase in finance costs by SR 1,303,778 as a result of a loan borrowed 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 period, 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.
Attached Documents
BATIC Quarterly Financials Report Q3 2019

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