National Metal Manufacturing and Casting Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

29 March 2020 09:55 AM

MAADANIYAH 2220 12.98% 18.28 2.10

Element List	Current Year	Previous Year	%Change
Sales/Revenue	263.25	391.17	-32.701
Gross Profit (Loss)	17.24	47.91	-64.015
Operational Profit (Loss)	-54.71	14.83	-
Net Profit (Loss) after Zakat and Tax	-65.11	4.53	-
Total Comprehensive Income	-64.26	3.76	-
Total Share Holders Equity (after Deducting Minority Equity)	308.51	372.77	-17.238
Profit (Loss) per Share	-2.32	0.16
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	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.

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