Saudi Company for Hardware announces its Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 332.14 | 351.61 | -5.537 | 389.53 | -14.733 |
| Gross Profit (Loss) | 65.95 | 67.13 | -1.757 | 80.63 | -18.206 |
| Operational Profit (Loss) | 28.81 | 26.45 | 8.922 | 46.59 | -38.162 |
| Net Profit (Loss) after Zakat and Tax | 16.48 | 14.64 | 12.568 | 33.14 | -50.271 |
| Total Comprehensive Income | 16.48 | 14.64 | 12.568 | 33.06 | -50.151 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,079.71 | 1,065.68 | 1.316 |
| Gross Profit (Loss) | 205.51 | 195.82 | 4.948 |
| Operational Profit (Loss) | 100.86 | 89.19 | 13.084 |
| Net Profit (Loss) after Zakat and Tax | 61.34 | 55.58 | 10.363 |
| Total Comprehensive Income | 62.33 | 55.58 | 12.144 |
| Total Share Holders Equity (after Deducting Minority Equity) | 585.2 | 540.87 | 8.196 |
| Profit (Loss) per Share | 1.7 | 1.54 | |
| All figures are in (Millions) 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 | The increase in net profit for current quarter compared with same quarter of the previous year was due to;
- Improvement in gross profit margin - Decrease in the G&A Expenses - Decrease in the S&M expenses - Increase in Other Income |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The decrease in net profit for the current quarter compared to the previous quarter was due to the following;
- Decrease in sales due to the implementation of new VAT decree effective from the beginning of Q3/2020. - Increase in the S&M expenses |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The increase in net profit for current period compared to the similar period of the previous year was mainly due on the increase in sales and the improvement in gross profit margin, in addition to the decrease in the S&M expenses. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | Comparative period figures have been reclassified to conform with current period classification numbers. |
| Additional Information | The initiatives provided by the government to minimize the impact of the coronavirus outbreak “Covid-19” and in particular the initiative related to SANED, resulted in a decrease in some operating expenses during the second quarter of this year. |
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