Saudi Arabia Refineries Co. announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

17 August 2021 03:31 PM

SARCO 2030 -1.59% 62.00 -1.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	7,730,194	7,485,340	3.271	1,190,427	549.363
Gross Profit (Loss)	7,730,194	7,485,340	3.271	1,190,427	549.363
Operational Profit (Loss)	7,171,470	7,028,095	2.04	317,799	2,156.605
Net Profit (Loss) after Zakat and Tax	7,138,187	7,103,470	0.488	221,071	3,128.911
Total Comprehensive Income	45,585,767	74,564,032	-38.863	78,554,863	-41.969
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	8,920,621	7,661,305	16.437
Gross Profit (Loss)	8,920,621	7,661,305	16.437
Operational Profit (Loss)	7,489,269	6,311,566	18.659
Net Profit (Loss) after Zakat and Tax	7,359,258	5,999,108	22.672
Total Comprehensive Income	124,140,630	-51,743,336	-
Total Share Holders Equity (after Deducting Minority Equity)	621,214,907	387,218,635	60.43
Profit (Loss) per Share	0.49	0.4
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	During the current quarter, compared with the same quarter of the previous year to achieve a profit of associates during the current quarter (won the contribution of Arab Tank Terminal LTD).
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	The reason for increased profit during the current quarter is due to dividends due from the first half of 2021 from Saudi Group for Industrial Investment (Investor Company) for SR 7,597,240
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The cause of the rise in net profit during the current period compared with the same period last year to achieve a profit of associates during the current period (won the contribution of Arab Tank Terminal LTD).
Statement of the type of external auditor's report	Qualified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	We were unable to verify the amount of fines delays and fees that may result from the company default to pay the bank guarantee on behalf of the associate, amounting to SR 5,1 million, as stated in Note (10), therefore, we were unable to determine the adjustments and material effects that may result from it on the financial statements of the company.
Reclassification of Comparison Items	Nothing

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