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Zahrat Al Waha for Trading Co. announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )

OASIS 3007 37.93% 44.00 12.10
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 108,615,710 133,414,576 -18.587 123,646,656 -12.156
Gross Profit (Loss) 14,667,513 18,038,990 -18.689 20,946,147 -29.975
Operational Profit (Loss) 10,322,288 14,021,884 -26.384 16,548,283 -37.623
Net Profit (Loss) after Zakat and Tax 6,620,472 10,139,594 -34.706 12,912,046 -48.726
Total Comprehensive Income 6,254,264 10,119,006 -38.192 13,123,199 -52.341
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 232,262,366 263,305,545 -11.789
Gross Profit (Loss) 35,613,660 34,836,513 2.23
Operational Profit (Loss) 26,870,571 27,462,050 -2.153
Net Profit (Loss) after Zakat and Tax 19,532,518 19,269,989 1.362
Total Comprehensive Income 19,377,463 19,102,010 1.442
Total Share Holders Equity (after Deducting Minority Equity) 231,310,831 197,000,788 17.416
Profit (Loss) per Share 1.3 1.28
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 for the current quarter compared to the same quarter of the previous year is being decreased mainly resulting from:

The decrease in sales is affected by the decrease in the price of the raw material, which is the main element in the value of sales, as the average price of the raw material decreased during the current quarter compared to the average price during the same quarter of the previous year, affected by the decrease in oil prices due to the Corona Virus (COVID-19).

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Net profit for the current quarter compared to the previous quarter is being decreased due to:

The decrease in sales is affected by the following:

1- The decrease in demand for sales of the preform sector during the current quarter compared to the previous quarter due to the emerging of Corona Virus (COVID-19)

2- The decrease in the price of the raw material, which represented the main driver in pricing and the value of sales, as the average price of the raw material decreased during the current quarter compared to the average price during the previous quarter affected by the decrease in oil prices as a result of the Corona Virus (COVID-19).

Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to Net profit for current period compared to the same period in the previous year is being increase mainly resulting from:

Increase in net profit for the first quarter of the current period compared to the first quarter of the same period in the previous year

Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items No
Additional Information 1- During the decrease in the demand for sales due to the new Corona Virus (COVID-19) during May, the company’s management provided scheduled preventive maintenance for some production lines from December to May, in order to maintain the operational efficiency of production lines, as the quarter’s sales value was affected the second of this year, the decrease in demand for sales during the month of May.

2- Net profit before Zakat for the current quarter amounted to 7,561,177 SR compared to 11,013,174 SR for the same quarter of the previous year, a decrease of 31.34%, affected by the decrease in the value of sales.

3- The net profit before Zakat for the current period reached 21,467,458 SR compared to 21,008,231 SR for the same period of the previous year, an increase of 2.19%.

4- Cash and cash equivalents amounted to 34,900,671 SR on June 30, 2020, compared to 25,376,554 SR as of December 31, 2019, an increase of 37.53%.

5- The balance of long-term loans as of 30 June 2020 was 66,130,054 SR compared to 82,382,743 SR as of December 31, 2019, a decrease of 19.73%.

6- The balance of short-term loans as of June 30, 2020 reached 92,892,303 SR compared to 113,175,031 SR as of December 31, 2019, a decrease of 17.92%.

7- The balance of the Loans and borrowings – current portion on June 30, 2020 reached 50,721,176 SR compared to 46,404,878 SR as of December 31, 2019, an increase of 9.30%.

8- The balance of equity on June 30, 2020, reached 231,310,831 SR compared to 223,183,368 SR as of December 31, 2019, an increase of 3.64% and compared to 197,000,788 SR as of June 30, 2019, an increase of 17.42%.

9- Basic earnings per share is calculated by dividing the profit for the period attributable to the ordinary shareholders of the company by the weighted average number of ordinary shares outstanding during the period

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