Red Sea International Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 155.5 | 119.2 | 30.453 | 228.9 | -32.066 |
| Gross Profit (Loss) | 6.1 | 7 | -12.857 | 40.3 | -84.863 |
| Operational Profit (Loss) | -20.4 | -14.7 | 38.775 | 14.3 | - |
| Net Profit (Loss) after Zakat and Tax | -25.1 | -18 | 39.444 | 1.5 | - |
| Total Comprehensive Income | -26.9 | -18.8 | 43.085 | -3.2 | 740.624 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 604.1 | 692.5 | -12.765 |
| Profit (Loss) per Share | -0.42 | -0.3 | |
| All figures are in (Millions) 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 | There was increase in net loss attributable to Shareholders of the Company from SAR 18 million in the first quarter last year to SAR 25.1 million in the current quarter, primarily due to increase general and administrative expenses and decrease in gross profit as compared to same quarter last year |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | There was an increase in net loss attributable to Shareholders of the Company for the current quarter as compared previous quarter by SR 26.6 million. The increase in Net loss is mainly due to decrease in revenue and gross profit as compared to previous quarter. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to conform with the presentation in the current period |
| Additional Information | The revenue for the current quarter is SAR 155.5 million as compared to SAR 119.2 million during the same quarter last year, which represents an increase of 30.4% and compared to SAR 228.9 million revenue during the previous quarter, represents a decrease of 32%.
The Comprehensive loss attributable to Shareholders of the Company for the current quarter is SAR 26.9 million as compared to a comprehensive loss of SAR 18.8 million for the same quarter last year, a increase in loss by 43.1%
The Net Shareholders' Equity attributable to shareholders as at 31 March 2020 was SAR 604.1 million as compared to SAR 630.8 million as at 31 December 2019, which represents a decrease of 4.2%. |
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