NATIONAL ALUMINUM AND PROFILE - NAPCO(NAPCO) disclosed its financial statements for the third quarter of the year 2020.
| Disclosure Year | 2020 | 2019 | ||
| Disclosure Period | End of 3009 | End of 3009 | ||
| Disclosure Start Date | 01/01/2020 | 01/01/2019 | ||
| Disclosure End Date | 29/09/2020 | 29/09/2019 | ||
| Disclosure Type | Financial Disclosure | Financial Disclosure | ||
| Company's Name | NATIONAL ALUMINUM AND PROFILE - NAPCO | NATIONAL ALUMINUM AND PROFILE - NAPCO | ||
| Company Symbol | NAPCO | NAPCO | ||
| Sector | Industry Sector | Industry Sector | ||
| Currency | JD | JD | ||
| End date of legal disclosure period | 31/10/2020 | 31/10/2019 | ||
| Actual Disclosure Date | 22/10/2020 01:19:00 PM | 27/10/2019 03:19:00 PM | ||
| Hard Copy Disclosure | ||||
| Consolidation Status | Consolidated | Consolidated | ||
| Notes Display Source | Note ID Only | Note ID Only | ||
| Auditing Status | Unaudited | Unaudited | ||
| Net income in Cash Flow Statement | Income Before Tax | Income Before Tax |
The attached notes form part of these financial statements
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | As a 29/09/2020 | As a 31/12/2019 | ||
| Note | Unaudited | Audited | ||
| Cash and cash equivalents | 278,680 | 332,861 | ||
| Cheques under collection | 5,626,643 | 5,870,468 | ||
| Accounts Receivable | 2,426,432 | 2,813,395 | ||
| Due to associates | 497,021 | 533,999 | ||
| Inventory | 5,251,578 | 6,218,167 | ||
| Other Current Assets | 2,598,196 | 2,254,748 | ||
| Total Current Assets | 16,678,550 | 18,023,638 | ||
| Projects in progress | 1,377,817 | 2,444,577 | ||
| Property, plant and equipment | 9,456,713 | 8,144,832 | ||
| Lands | 2,414,999 | 2,414,999 | ||
| Total Fixed Assets | 13,249,529 | 13,004,408 | ||
| Total assets | 29,928,079 | 31,028,046 | ||
| Due to banks | 3,508,181 | 3,864,087 | ||
| Post dated Cheques | 639,988 | 536,752 | ||
| Short term loans | 6,016,036 | 6,337,064 | ||
| Other current liabilities | 702,096 | 929,632 | ||
| Due to suppliers | 608,199 | 1,112,445 | ||
| Due from associates | 1,463,129 | 1,673,323 | ||
| Total Current Liabilities | 12,937,629 | 14,453,303 | ||
| Provision for employees' indemnity | 1,318,692 | 1,016,001 | ||
| Long term loans | 4,182,448 | 3,264,003 | ||
| Total non-current liabilities | 5,501,140 | 4,280,004 | ||
| Total Liabilities | 18,438,769 | 18,733,307 | ||
| Paid-in Capital | 7,314,000 | 7,314,000 | ||
| Statutory reserve | 1,746,423 | 1,769,663 | ||
| voluntary reserve | 15,911 | 15,911 | ||
| Revaluation reserve | 1,420,222 | 1,420,222 | ||
| Retained earnings | 992,754 | 1,774,943 | ||
| Total Owners' Equity | 11,489,310 | 12,294,739 | ||
| Total Liabilities & Owners' Equity | 29,928,079 | 31,028,046 |
The attached notes form part of these financial statements
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | End of 30092020 | End of 30092019 | ||
| Note | Unaudited | Unaudited | ||
| Revenues | 9,367,242 | 12,079,022 | ||
| Cost of Goods Sold | (7,821,902) | (9,932,880) | ||
| Selling and Distribution Expenses | (346,733) | (421,800) | ||
| General and administrative expenses | (1,224,315) | (907,118) | ||
| Anodizing depreciation expense | (101,326) | (98,513) | ||
| Banks interest and commission expenses | (536,347) | (484,051) | ||
| Allowance of doubtful accounts | (7,581) | (11,502) | ||
| Gains/Losses of foreign currency translation differences | (26,893) | 660 | ||
| Other revenues (expenses) | 258,130 | (119) | ||
| Net Income before tax | (439,725) | 223,699 | ||
| Income tax expense | 0 | (33,555) | ||
| Net Income after tax | (439,725) | 190,144 | ||
| Net Comprehensive Income | (439,725) | 190,144 |
The attached notes form part of these financial statements
| Note | JD | JD | JD | JD | JD | JD | |
| 2020 | - | - | - | - | - | - | - |
|
Balance - Beginning of the period
|
7,314,000 | 1,769,663 | 15,911 | 1,420,222 | 1,774,943 | 12,294,739 | |
|
Net Income and Other Comprehensive Income
|
- | - | - | - | (439,729) | (439,729) | |
|
Total Comprehensive Income for the Period
|
0 | 0 | 0 | 0 | (439,729) | (439,729) | |
|
Cash Dividends Paid
|
- | - | - | - | (365,700) | (365,700) | |
|
Balance - End of the period
|
7,314,000 | 1,769,663 | 15,911 | 1,420,222 | 969,514 | 11,489,310 | |
| 2019 | - | - | - | - | - | - | - |
| Balance - Beginning of the period | 6,900,000 | 1,725,000 | 15,911 | 1,420,222 | 1,786,978 | 11,848,111 | |
| Net Income and Other Comprehensive Income | - | - | - | - | 190,146 | 190,146 | |
| Total Comprehensive Income for the Period | 0 | 0 | 0 | 0 | 190,146 | 190,146 | |
| Stock Dividends | 414,000 | - | - | - | (414,000) | 0 | |
| Transferred to Statutory Reserve | - | 19,015 | - | - | (19,015) | 0 | |
| Balance - End of the period | 7,314,000 | 1,744,015 | 15,911 | 1,420,222 | 1,544,109 | 12,038,257 |
The attached notes form part of these financial statements
| - | 2020 | 2019 | ||
| - | JD | JD | ||
| - | End of 30092020 | End of 30092019 | ||
| Note | Unaudited | Unaudited | ||
| Net Income before/after tax | (439,725) | 223,699 | ||
| Depreciation and Amortization expense | 625,574 | 685,245 | ||
| Allowance of doubtful accounts | 7,581 | 11,502 | ||
| Change in end of service allowance payments | 125,366 | 120,325 | ||
| Foreign currency translation differences | (26,893) | 660 | ||
| Change in Cheques under collection | 243,825 | (589,593) | ||
| Change in Accounts Receivable | 775,858 | 641,767 | ||
| Due to associates | 34,595 | 21,866 | ||
| Change in inventory | 966,586 | (995,085) | ||
| Change in Other Current Assets | (341,098) | (196,162) | ||
| Due to suppliers | (359,313) | (251,309) | ||
| Change in post dated Cheques | 389,668 | 47,156 | ||
| Change in Accounts Payable due to sister companies | (207,811) | (135,032) | ||
| Change in Other Current Liabilities | (463,714) | 14,878 | ||
| Employees' indemnity paid | (35,211) | (85,625) | ||
| Net Cash Flow from Operating Activities | 1,295,288 | (485,708) | ||
| Change in Projects in Progress | (923,767) | (982,261) | ||
| Proceeds from sale of Property, Plant and Equipment | 0 | (375,137) | ||
| Net Cash Flow from Investing Activities | (923,767) | (1,357,398) | ||
| Due to banks | (355,911) | 458,404 | ||
| Change in loans | (69,790) | 1,382,037 | ||
| Net Cash Flow from Financing Activities | (425,701) | 1,840,441 | ||
| Net change in cash and cash equivalents | (54,180) | (2,665) | ||
| Cash and cash equivalents, beginning of Period | 332,861 | 233,886 | ||
| Cash and cash equivalents, end of period | 278,681 | 231,221 |
The attached notes form part of these financial statements
Palestine Exchange: Received Disclosed Interim Financial Statements of NATIONAL ALUMINUM AND PROFILE - NAPCO(NAPCO) for the first nine months ended 30092020
The Palestine Exchange (PEX) received the Unaudited & Consolidated interim financial statements for first nine months of 2020 from NATIONAL ALUMINUM AND PROFILE - NAPCO(NAPCO).
According to financial statements for first nine months of 2020, Net Loss after tax of the period reached (439,725) JD Compared with Net profit after tax 190,144 JD for 2019.Total assets of the company reached 29,928,079 JD compared with total assets of 31,028,046 JD at the end of year 2019, a net decrease of 3.55%.Total liabilities of the company reached 18,438,769 JD compared with total liabilities of 18,733,307 JD at the end of year 2019, a net decrease of 1.57%. Net ownership equity of the company reached 11,489,310 JD compared with total owner equity of 12,294,739 JD at the end of year 2019, a net decrease of 6.55%.
The attached notes form part of these financial statements
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