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Astra Industrial Group announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

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Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 509,509,672 470,182,183 8.364 445,175,325 14.451
Gross Profit (Loss) 207,166,404 187,626,459 10.414 167,757,580 23.491
Operational Profit (Loss) 63,047,481 50,051,119 25.966 52,753,075 19.514
Net Profit (Loss) after Zakat and Tax 34,093,603 8,907,048 282.771 19,636,111 73.627
Total Comprehensive Income 23,640,777 12,431,977 90.161 142,893,855 -83.455
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total Share Holders Equity (after Deducting Minority Equity) 1,238,922,186 1,070,631,943 15.718
Profit (Loss) per Share 0.43 0.11
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 Net profit increases in general due to:

1. Increase in sales of the following segments:

a. Pharmaceuticals sector

b. Specialty Chemical sector

2. Decrease in financial charges in all segment

3. Non-recurring reversal of provision for impairment of financial assets expense in Power and Steel sector

While noting that there was a negative impact due to the increase in other expenses mainly in Pharmaceuticals and Specialty chemicals sector. In addition, there is increase in Selling and Distribution expenses in all sectors.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Net profit increases in general due to:

1. Lower other expenses since in previous quarter there was:

a. Non-recurring negative impact as a result of the settlement of a subsidiary in Sudan in the pharmaceuticals sector the loan to its parent company in KSA realizing currency losses in the income statement.

b. Non-recurring positive impact in the previous quarter in other income from fair values remeasurement of the company’s investment and loans to Tanmiya for steel company in accordance with IFRS as compared to the book values, related to Tanmiya for steel company compliance with company laws as per the company’s announcement published on Tadawul on January first 2020

2. Increase in sales of the following segments:

a. Pharmaceuticals sector

b. Specialty Chemical sector

3. Non-recurring reversal of provision for impairment of financial assets expense in Power and Steel sector

While noting that there is increase in Zakat and Income tax expense since in previous quarter there was positive impact resulting from reversal of excess Zakat provisions based on the settlements that was reached with GAZT. In addition, there is increase in Selling and Distribution expenses in all sectors.

Basis of the External Auditor's Opinion Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion The external auditors have reviewed the interim consolidated financial statement and their conclusion is unmodified
Reclassification of Comparison Items Certain comparative figures for the previous period have been reclassified to be consistent with the presentation of the current period.
Additional Information Net Shareholders’ Equity at the end of the period was SR1,223,695,759/- compared to SR1,063,176,800/- at the end of the similar period last year with an increase of 13%.

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