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Watani Iron Steel Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

WATANI STEEL 9513 -0.80% 2.48 -0.02
Element List Current Year Previous Year %Change
Sales/Revenue 459,411,422 481,061,778 -4.5
Gross Profit (Loss) 56,396,467 50,226,446 12.284
Operational Profit (Loss) 44,132,033 39,788,669 10.916
Net Profit (Loss) after Zakat and Tax 31,080,985 29,392,424 5.744
Total Comprehensive Income 30,984,413 29,027,675 6.74
Total Share Holders Equity (after Deducting Minority Equity) 140,328,409 145,043,996 -3.251
Profit (Loss) per Share 2.57 2.43
All figures are in (Actual) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The reason for the increase in net profit for the current year (2020) compared to the previous year (2019) is mainly due to the increase in the profit margin, which contributed to the increase in the total profit despite the decrease in the sales volume for the year (2020) compared to the previous year (2019). This is due to the decrease in demand rates resulting from the effects of the global pandemic, Covid 19 and the curfew periods, as this increase resulted in an increase in net profit despite the increase in expenses of decrease charged during the period against the decrease in receivables, other receivables and higher zakat expense
Statement of the type of external auditor's report Unmodified opinion
Reclassification of Comparison Items N/A

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