Astra Industrial Group 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 | 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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