Saudi Arabia Refineries Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

18 May 2020 08:16 AM

Default Company 2030.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	175,965	-603,167	-	10,968,004	-98.395
Gross Profit (Loss)	175,965	-603,167	-	10,968,004	-98.395
Operational Profit (Loss)	-716,529	-1,234,853	-41.974	9,581,576	-
Net Profit (Loss) after Zakat and Tax	-1,104,362	-1,270,600	-13.083	9,041,945	-
Total Comprehensive Income	-126,307,368	24,987,320	-	23,000,690	-
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)	327,654,603	455,513,390	-28.069
Profit (Loss) per Share	-0.07	-0.08
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	The reason for the decrease in loss during the current quarter is due to the dividends due for the second half of 2019 from the Southern Region Cement Company (an investee company) in the amount of 271,499 SR
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The reason for achieving the loss during the current quarter is due to the lack of dividends from the Saudi Industrial Investment Group Company (an investee company) that was during the previous quarter in the amount of 11,395,860 SR
Basis of the External Auditor's Opinion	Qualified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	Investments in associate companies include investment in the Arab Company for Sulfonates Ltd. (a company under liquidation) and a decrease in allocation of the investment value has been recorded, and the liquidation work was not completed until the date of March 31, 2020 AD (Note 6), and we were not able to verify the possible obligations and delay penalties that It may result from the failure of the company to pay the bank guarantee of the associate company amounting to SR 5.1 million as shown in Note No. (10) and consequently we were unable to determine any adjustments and material effects that it might entail on the financial statements of the company.
Reclassification of Comparison Items	Nothing
Additional Information	This announcement has been modified in the revenues item and also the item of gross profit (loss) as well as the operating profit ((loss) item during the same quarter of the previous year as it was merging between (other revenues and revenues ) in previous announcements. It was announced on November 18, 2019 The correction from the third quarter of the year 2019 AD has been re-tabulated in line with international standards and classification of the item in the financial statements, bearing in mind that this correction does not affect the financial results of the company, so it must be noted

Comments