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Zahrat Al Waha for Trading Co. announces its Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )

OASIS 3007 37.93% 44.00 12.10
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 101,537,386 147,000,363 -30.927 108,615,710 -6.516
Gross Profit (Loss) 14,930,847 23,477,810 -36.404 14,667,513 1.795
Operational Profit (Loss) 10,754,082 19,309,766 -44.307 10,322,288 4.183
Net Profit (Loss) after Zakat and Tax 7,197,099 14,973,689 -51.935 6,620,472 8.709
Total Comprehensive Income 7,173,321 14,988,060 -52.139 6,254,264 14.694
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 333,799,752 410,305,908 -18.646
Gross Profit (Loss) 50,544,507 58,314,323 -13.324
Operational Profit (Loss) 37,624,653 46,771,816 -19.556
Net Profit (Loss) after Zakat and Tax 26,729,617 34,243,678 -21.942
Total Comprehensive Income 26,550,784 3,490,070 660.752
Total Share Holders Equity (after Deducting Minority Equity) 238,484,152 211,988,848 12.498
Profit (Loss) per Share 1.78 2.28
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 Decrease in net profit for current quarter versus the same quarter for the previous year related to: -

1- Sales decreased by 31 % due to

- Volume demand decreasing which effected by Coronavirus (COVID-19), whereas Where the drop becomes 14 % Down

- Decrease and fluctuation for Raw Material price, which the main factor for selling prices determining, also significant impact on selling value and profitability.

2- Decrease in Selling and distribution Expenses also General and administrative expenses which less than percentage of sales decreased.

3- Zakat Provision increased by 87.73 %, which affected by Zakat base Increased.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Increase in net profit for current quarter versus the same quarter for the previous year related to: -

- Cost of Goods Sold decreasing.

- Selling and distribution decreasing.

- Finance Cost decreasing.

Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to Decrease in net profit for current quarter versus the same quarter for the previous year related to: -

- Sales Decreasing.

- Selling and distribution expenses increasing, especially during the first half.

- Zakat Provision increased by 31.15 %, which affected by Zakat base Increased.

Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items No
Additional Information 1- Finance costs amounted to 7,815,876 SR during the current period compared to 10,180,390 SR during the same period of the previous year, a decrease of 23.23% due to the high percentage of self-financing from the company's cash to working capital.

2- The balance of cash and cash equivalents amounted to 37,205,468 SR on 30, September 2020, compared to 25,376,554 SR as of 31, December 2019, with an increase of 46.61%, as the company invested the cash available in an Islamic deposit of 33,000,00 SR compared to an Islamic deposit of 20,000,000 SR as of 31, December 2019.

3- The balance of long-term loans on 30, September 2020 reached 51,937,333 SR compared to 82,382,743 SR as of 31, December 2019, a decrease by 36.96% as the company relies on self-financing for capital expansions.

4- The balance of short-term loans on 30, September 2020 reached 102,629,392 SR compared to 113,175,031 SR as of 31, December 2019, a decrease of 9.32%.

5- The balance of equity on 30, September 2020, reached 238,484,152 SR compared to 223,183,368 SR as of 31, December 2019, an increase of 6.86% and compared to 211,988,848 SR on 30, September 2019, an increase of 12.50%.

6- 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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