| 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 profit during the current quarter compared to the same quarter of the previous year is due to the decrease in the dividends payable for the first half of 2020 from the Saudi Industrial Investment Group Company (an investor company) amounting to 7,597,240 riyals |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to |
The reason for achieving profit during the current quarter is due to the dividends due for the first half of 2020 from the Saudi Industrial Investment Group Company (an invested company) in the amount of 7,597,240 riyals |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to |
The reason for the decrease in net profit during the current period compared to the corresponding period of the previous year is the decrease in the dividend distributions due for the first half of 2020 from the Saudi Industrial Investment Group Company (an invested company) in the amount of 7,597,240 riyals |
| Basis of the External Auditor's Opinion |
Qualified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion |
As indicated in note No. (6) and No. (10) in the clarifications about the financial statements, the investments in associate companies include an investment in the Arab Sulfonate Company Ltd. (a company under liquidation). A impairment provision was recorded for the full value of the investment, and the liquidation did not end until June 30, 2020. We were unable to verify the potential obligations and delay penalties that may result from the company's failure to pay the bank guarantee from the associate amounting to SAR 5.1 million, and therefore we were unable to determine any adjustments and material impacts that might result on the company’s financial statements |
| Reclassification of Comparison Items |
Nothing |
| Additional Information |
The amendment was made in this announcement in the revenue item and also the gross profit (loss) item and also the operating profit (loss) item during the same quarter of the previous year and also during the same period of the previous year as it was merging between (income and other income) with previous announcements. The announcement was made on November 18, 2019 for the correction from the third quarter of the fiscal year 2019 and the reclassification was done in line with international standards and the item is classified in the financial statements, bearing in mind that this correction does not affect the financial results of the company, so it must be noted |
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