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