Al Abdullatif Industrial Investment Co. 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 | 102.56 | 133.85 | -23.376 | 81.86 | 25.287 |
| Gross Profit (Loss) | -2.09 | 12.18 | - | -3.53 | -40.793 |
| Operational Profit (Loss) | -8.73 | 6.58 | - | -9.16 | -4.694 |
| Net Profit (Loss) after Zakat and Tax | -12.12 | 2.2 | - | -13.03 | -6.983 |
| Total Comprehensive Income | -12.12 | 2.2 | - | -13.03 | -6.983 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 317.77 | 475.59 | -33.184 |
| Gross Profit (Loss) | -0.04 | 47.4 | - |
| Operational Profit (Loss) | -18.29 | 25.45 | - |
| Net Profit (Loss) after Zakat and Tax | -32.88 | 9.71 | - |
| Total Comprehensive Income | -32.88 | 9.71 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,115.94 | 1,173.29 | -4.887 |
| Profit (Loss) per Share | -0.4 | 0.12 | |
| 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 reasons for a loss in the overall business results, operating results, net business results and comprehensive income for the current quarter compared to the profit of the same quarter of 2019 are due to :-
1- Decline in sales due to a decrease in demand for products. 2- The increase in the cost of sales attributed to the sales due to the decrease in the utilized production capacity. 3- The increase in selling and marketing expenses, despite the decrease in sales, due to the increase in the cost of samples and the slight change in the cost of export. 4- The increase in the legal zakat provision.5- Decrease in other income. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The reasons for the decrease in loss in overall business results, operating results, net business results and comprehensive income for the current quarter compared to the previous quarter are due to :-
1- Increase sales. 2- The relative decrease in the cost of sales attributable to the sales. 3- Decrease in general and administrative expenses. 4- The increase in the profits of valuing investments at fair value. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The reasons for a loss in the overall business results, operating results, net business results and comprehensive income for the period compared to the profit of the same period of the previous year are due to :-
1- The sharp decrease in sales due to the decrease in demand for products. 2- The increase in the cost of sales attributable to the sales. 3- The increase in the legal zakat provision. 4- In general, the decrease is a result of the company's sales being affected by the Corona virus, which negatively affected the achievement of the goals that were planned according to the estimated budget of the company, due to the decrease in the utilized production capacity and bearing the burdens of unused fixed operating costs. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform with the presentation in the current period. |
| Additional Information | 1 - There are no minority rights in the financial statements. |
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