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Astra Industrial Group announces its Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )

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Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 433,833,874 447,162,242 -2.98 441,511,675 -1.738
Gross Profit (Loss) 179,376,446 161,801,615 10.861 165,759,154 8.215
Operational Profit (Loss) 29,558,915 28,417,943 4.014 43,270,268 -31.687
Net Profit (Loss) after Zakat and Tax 19,204,251 -14,623,304 - 24,223,085 -20.719
Total Comprehensive Income 21,284,755 -17,861,711 - 24,621,155 -13.55
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 1,384,855,221 1,410,750,867 -1.835
Gross Profit (Loss) 552,302,004 559,408,221 -1.27
Operational Profit (Loss) 135,876,664 132,233,515 2.755
Net Profit (Loss) after Zakat and Tax 77,520,939 10,059,932 670.591
Total Comprehensive Income 69,546,687 14,187,588 390.193
Total Share Holders Equity (after Deducting Minority Equity) 1,278,736,126 1,072,387,554 19.241
Profit (Loss) per Share 0.97 0.13
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.Increase in gross profit in the following sectors:

a.Pharmaceuticals sector

b.Specialty chemical sector

2.Decrease in financial charges in all sectors

3.Decrease in net losses in the joint venture

4.Decrease in zakat and income tax expenses in the following sectors:

a.Pharmaceuticals sector

b.Specialty chemical sector

While noting that there was increase in general & administration expenses and increase in provision for impairment of financial assets expense.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Net profit decreases in general due to:

1. Higher general and administrative and selling and distribution expenses in the following sectors:

a. Pharmaceuticals sector

b. Specialty chemical sector

2. Higher provision for impairment of financial assets expense mainly in pharmaceutical sector

While noting that there is increase in gross profits in all sectors.

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 all sectors.

2. Decrease in net losses in the joint venture

3. Decrease in selling and distribution expenses in pharmaceutical sector

4. Decrease in zakat and income tax expenses.

While noting that there was a drop in sales and gross profits mainly in Pharmaceuticals and Power and steel sectors which is off set with an increase of gross profit in specialty chemicals sector.

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 SR1,274,035,101/- compared to SR1,067,126,242/- at the end of the similar period last year with an increase of 19%.

2. During the second quarter, 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 share capital. Accordingly, the Group’s shareholding in Astra Mining increased from 60% to 77.3% while the loan balance due to the partner in a subsidiary has decreased close to zero (Please refer to the Note 16 in the Condensed Interim Consolidated Financial Statements for the period ended 30 Sept. 2020).

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