Astra Industrial Group announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 441,511,675 | 493,406,442 | -10.517 | 509,509,672 | -13.345 |
| Gross Profit (Loss) | 165,759,154 | 209,980,147 | -21.059 | 207,166,404 | -19.987 |
| Operational Profit (Loss) | 43,270,268 | 53,764,453 | -19.518 | 63,047,481 | -31.368 |
| Net Profit (Loss) after Zakat and Tax | 24,223,085 | 15,776,188 | 53.542 | 34,093,603 | -28.951 |
| Total Comprehensive Income | 24,621,155 | 19,617,322 | 25.507 | 23,640,777 | 4.146 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 951,021,347 | 963,588,625 | -1.304 |
| Gross Profit (Loss) | 372,925,558 | 397,606,606 | -6.207 |
| Operational Profit (Loss) | 106,317,749 | 103,815,572 | 2.41 |
| Net Profit (Loss) after Zakat and Tax | 58,316,688 | 24,683,236 | 136.26 |
| Total Comprehensive Income | 48,261,932 | 32,049,299 | 50.586 |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,257,449,426 | 1,090,249,265 | 15.335 |
| Profit (Loss) per Share | 0.73 | 0.31 | |
| 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. Decrease in Selling and Distribution expenses mainly in Pharmaceuticals sector.
2. Decrease in General and Administrative expenses mainly in Pharmaceuticals sector.
3. Decrease in financial charges mainly in Specialty chemicals sector.
4. Lower zakat expenses mainly in Pharmaceuticals sector.
While noting that there was a decrease in gross profit in all sectors. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | Net profit decreases in general due to:
1. Decrease in sales in all sectors except Specialty chemicals.
2. Decrease in gross profit in all sectors except Power and steel sector.
3. Non-recurring positive impact in Q1 related to the reversal in provision for impairment of financial assets in Power and steel sector.
While noting that there is decrease in Selling and Distribution expenses, General and Administrative expenses in all sectors and other expenses. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | Net profit increases in general due to:
1. Decrease in financial charges in the following sectors:
a. Specialty chemical sector. b. Pharmaceuticals sector. c. Power and steel sector.
2. Lower provision for impairment of financial assets due to non-recurring reversal in Power and Steel sector.
3. Decrease in Selling and Distribution expenses mainly in pharmaceutical sector.
While noting that there was a drop in gross profits mainly in Pharmaceuticals and Power and steel sectors. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| 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 | 1. Net Shareholders’ Equity at the end of the period was SR1,254,407,940/- compared to SR1,084,001,417/- at the end of the similar period last year with an increase of 16%.
2. During the period, Astra Mining (a subsidiary of the Astra Industrial Group) share capital was increased from SAR 5 million to SAR 45.9 million through conversion of shareholders’ loans to equity. Accordingly, the Group’s shareholding in Astra Mining has increased from 60% to 77.3% and the loan balance due to the partner in a subsidiary has decreased (Please refer to the Notes in Q2 Financial Statements). |
Comments