Element List |
Explanation |
Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to |
The reasons for net losses during the current year are decrease in sales due the decrease in the market demand in GCC decrease of Pre Stressed concrete strands in the market of United States of America compare to the previous year. In addition other expenses increased due to recording of goodwill impairment in an amount of SR 4.10 million, also there is a decrease in other income and increase in financial charges. |
Basis of the External Auditor's Opinion |
Unmodified opinion |
Reclassification of Comparison Items |
Certain comparative figures have been reclassified to conform the presentation for the current year. |
Additional Information |
Effective January 1, 2019, the Company adopted IFRS 16 (Leases ),for more information on the impact of this standard refer to Notes No. (3) & (7) attached to the financial statements for the year 2019. |
Comments