Zahrat Al Waha for Trading Co. announces its Annual Financial Results for the Period Ending on 2019-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 519,757,535 | 488,512,214 | 6.396 | ||
| Gross Profit (Loss) | 88,460,346 | 65,035,893 | 36.017 | ||
| Operational Profit (Loss) | 73,398,287 | 52,979,871 | 38.539 | ||
| Net Profit (Loss) after Zakat and Tax | 56,635,828 | 34,662,745 | 63.391 | ||
| Total Comprehensive Income | 56,534,590 | 34,831,718 | 62.307 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 223,183,368 | 192,898,778 | 15.699 | ||
| Profit (Loss) per Share | 3.78 | 2.31 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to | The reason for the increase in the company's net profit for the current year 2019 compared to the previous year 2018 is due to:
- Increased the sales - decrease the financing costs |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain comparative figures for the current year ending December 31, 2018 have been reclassified to conform to the current year 2019 presentation of the financial statements.
Impact on the income or loss statement and other comprehensive income before reclassification reclassification after reclassification Selling and distribution expenses 8,000,355 (694,000) 7,306,355 General and administrative expenses 5,348,390 694,000 6,042,390 |
| Additional Information | 1- While the company's sales for the current year increased by 6.4% over the previous year’s sales, the percentage of the increase in the Cost of goods sold for the current year from the previous year increased by 1.85%.
2- The net profit after Zakat for the fourth quarter 2019 was 22,392,150 SR, compared to 13,049,408 SR for the same quarter of the previous year, with a growth rate of 71.60%. 3- The Inventory balance on December 31, 2019 amounted to 43,397,705 SR compared to 32,764,457 SR on December 31, 2018, with a rise of 32.45% as the company took advantage of the production capacity and storage capacity to meet the increase in demand during high season periods. 4- The balance of trade receivables on December 31, 2019 amounted to 159,253,880 SR compared to 177,979,761 SR on December 31, 2018, a decrease of 10.52%. 5- Cash and cash equivalents on December 31, 2019 amounted to 25,376,554 SR compared to 16,620,422 SR on December 31, 2018, with an increase of 52.68%. The management of the cash company available has invested by Islamic deposit with the Alinma Bank in the amount of 20 million SR. 6- The balance of long-term loans on December 31, 2019 was 82,382,743 SR compared to 112,796,622 SR as on December 31, 2018, a decrease of 26.96% as the company relies on financing most capital expansions on self-financing by the company. 7- The balance of short-term loans on December 31, 2019 was 113,175,031 SR compared to 110,652,414 SR on December 31, 2018, an increase of 2.28%, while the increase in purchases of raw materials financed by short-term loans during the current year 2019 over the previous year 2018, an increase of 6.7% . 8- The balance of trade payables on December 31, 2019 was 13,634,608 SR compared to 17,668,092 SR on December 31, 2018, with a decrease of 22.83%. |
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