Jazan Energy and Development Co. announces its Interim Financial Results for the Period Ending on 2021-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 23,176,937 | 22,590,101 | 2.597 | 24,745,999 | -6.34 |
| Gross Profit (Loss) | 6,492,780 | 5,953,367 | 9.06 | 3,764,441 | 72.476 |
| Operational Profit (Loss) | 1,795,086 | 1,354,707 | 32.507 | -2,149,795 | - |
| Net Profit (Loss) after Zakat and Tax | 2,089,274 | 523,609 | 299.014 | 1,152,082 | 81.347 |
| Total Comprehensive Income | 2,247,036 | 523,609 | 329.143 | 1,647,329 | 36.404 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 526,157,051 | 523,972,624 | 0.416 |
| Profit (Loss) per Share | 0.04 | 0.01 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 56,252,943 | 500,000,000 | 11.25 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The increase in profits is related to the growth in sales by 2.6%, as the agricultural and aquacultural sector sales grew by 10.3%, supported by an increase in sales of shrimp and fruits. In addition, revenues from Real estate operation rose by 4.5% as a result of an increase in the occupancy rate, while the sales of the industrial sector (water factory) declined by 19%, due to being affected by the Corona pandemic. The increase in net profits is also led by a reduction in cost of revenue, which contributed to a higher gross profit by 9% as a result of a high efficiency and reduction in operating costs in the agricultural and aquacultural sector. Furthermore, the improvement in the performance of the associates and subsidiaries also contributed to the increase in net profits. Therefore, all the above-mentioned reasons contributed to the growth of net profits for this quarter by nearly 300% compared to the same quarter from the previous year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | Despite the decrease in sales compared to the previous quarter, the company achieved higher profits due to the following reasons:
1- Reduction in selling and marketing expenses 2- Decrease in general and administrative expenses 3- Decrease in the allowance for doubtful debts |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Some comparative figures for the previous year have been reclassified to conform to the presentation used for the current period. |
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