National Metal Manufacturing and Casting Co. announces its Annual Financial Results for the Period Ending on 2020-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 205.96 | 263.25 | -21.762 | ||
| Gross Profit (Loss) | 11.4 | 17.24 | -33.874 | ||
| Operational Profit (Loss) | -31.5 | -54.71 | -42.423 | ||
| Net Profit (Loss) after Zakat and Tax | -40.81 | -65.11 | -37.321 | ||
| Total Comprehensive Income | 40.37 | -64.26 | - | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 268.14 | 308.51 | -13.085 | ||
| Profit (Loss) per Share | -1.45 | -2.32 | |||
| All figures are in (Millions) 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 reasons for the net losses during the current year are due to decrease in sales because of the Covid-19 and the precautions imposed to limit the breakout the virus. Also recording provisions for doubtful accounts and slow moving inventory in an amount of SAR 12.1 million compared to SAR 2.7 million last year.
The decrease in losses during the current year compared to the previous year is due to recording goodwill impairment losses in amount of SAR 40.10 million during past year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform the presentation for the current year. |
| Additional Information | The total accumulated losses at the end of 2020 is SAR 40.17 million equals 14.28% of the paid up capital. |
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