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Red Sea International Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

RED SEA 4230 33.43% 27.30 6.84
Element List Current Year Previous Year %Change
Sales/Revenue 641.1 658.6 -2.657
Gross Profit (Loss) 51.7 79.7 -35.131
Operational Profit (Loss) -48 -38.3 25.326
Net Profit (Loss) after Zakat and Tax -71.9 -85.7 -16.102
Total Comprehensive Income -75.9 -91.5 -17.049
Total Share Holders Equity (after Deducting Minority Equity) 630.8 711.3 -11.317
Profit (Loss) per Share -1.2 -1.43
All figures are in (Millions) Saudi Arabia, Riyals
Element List Explanation
Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to There was decrease in net loss attributable to Shareholders of the Company primarily due to decrease in general and administration expenses and decrease in impairment of non financial assets in the current year as compared to the previous year.
Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items Certain prior year figures have been re-classified to conform with the presentation in the current year.
Additional Information Revenue for the current year is SAR 641.1 million as compared to SAR 658.6 million in the previous year, which represents a decrease of 2.7%.

The Comprehensive loss attributable to Shareholders of the Company for the current year is SAR 75.9 million as compared to SAR 91.5 million for the previous year, a decrease in loss by 17%.

The Net Shareholders' Equity attributable to shareholders as of 31-12-2019 is SAR 630.8 million as compared to SAR 711.3 million at the end of previous year, which represents a decrease of 11.3%.

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