Baazeem Trading Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 59,516,741 | 65,999,828 | -9.822 | 59,376,280 | 0.236 |
| Gross Profit (Loss) | 20,700,838 | 24,945,468 | -17.015 | 25,178,200 | -17.782 |
| Operational Profit (Loss) | 4,816,522 | 6,376,770 | -24.467 | 6,011,637 | -19.88 |
| Net Profit (Loss) after Zakat and Tax | 4,180,987 | 4,891,039 | -14.517 | 4,906,681 | -14.789 |
| Total Comprehensive Income | 4,180,987 | 4,891,039 | -14.517 | 4,906,681 | -14.789 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 198,730,304 | 218,614,769 | -9.095 |
| Gross Profit (Loss) | 74,968,318 | 83,830,138 | -10.571 |
| Operational Profit (Loss) | 22,138,708 | 25,291,767 | -12.466 |
| Net Profit (Loss) after Zakat and Tax | 18,871,760 | 20,385,435 | -7.425 |
| Total Comprehensive Income | 18,871,760 | 20,385,435 | -7.425 |
| Total Share Holders Equity (after Deducting Minority Equity) | 192,357,033 | 185,323,813 | 3.795 |
| Profit (Loss) per Share | 1.86 | 2.01 | |
| 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 | Baazeem trading net profit for the third quarter 2021 ending on 30 September reached 4,180,987 SAR compared to 4,891,039 SAR in the third quarter of 2020. The decrease in net profit is driven by the reduction in the company sales by -9.82%. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | Baazeem trading net profit for the third quarter 2021 ending on 30 September reached 4,180,987 SAR compared to 4,906,681 SAR in the second quarter of 2021. The decrease in net profit is driven by the brand mix. |
| 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 net profit in the current period of 2021 decreased by -7.43%, reaching 18,871,760 SAR compared to 20,385,435 SAR in same period last year 2020. The decrease was driven by the reduction in the company sales by -9.10%. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | Emphasis of matter
We refer to note no. (4) in respect of the data of the Group (Investment in the State of Qatar) which registered in the name of one of the major shareholders (Chairman of the Board of Directors) since 2008. This is approved in the minutes of the board of directors and the minutes of the general assembly |
| Reclassification of Comparison Items | Items, elements and notes of the comparatives Consolidated Financial Statements have been re-displayed, regrouped and reclassified to meet with the applied accounting policies for the current period, which have been prepared according to the International Financial Reporting Standards (IFRS) that were endorsed in the Kingdom of Saudi Arabia. Certain comparative amounts have been reclassified to conform to the current year’s presentation. |
| Additional Information | 1- There are no new standards that have been issued, however, a few amendments to the standards are effective from January 1, 2020, which have been explained in the annual consolidated financial statements of the Group, but do not have a material impact on the interim condensed consolidated financial statements of the Group.
2- Company net sales in the third quarter for the financial year 2021 reached 59,516,741 SAR compared to 65,999,828 SAR in the third quarter of 2020, declining by -9.82%.
3- The net profit in the third quarter of 2021 decreased by -14.79%, reaching 4,180,987 SAR compared to 4,906,681 SAR in second quarter of 2021. The decrease was driven by brand mix. On the same time, the net profit of the third quarter 2021 posted decrease of -14.52% reaching 4,180,987 SAR compared to same quarter in 2020 which was 4,891,039 SAR. 4- Company net sales in the current period ending on 30-9-2021 reached 198,730,304 SAR compared to 218,614,769 SAR in the same period ending on 30-9-2020, declining by -9.10%.
The net profit in the current period ending on 30-9-2021 decreased by -7.43%, reaching 18,871,760 SAR compared to 20,385,435 SAR in same period last year 2020. 5- The total shareholder's equity increased by 3.80%, reaching 192,357,033 SAR on 30-9-2021 compared to 185,323,813 SAR on 30-9-2020, with no minority rights.
6- The earning by share on the period ending 30-9-2021 decreased by -7.46% reaching 1.86 compared to 2.01 on the same period last year ending 30-9-2020. Worth mentioning that the total number company shares is 10,125,000 shares. |
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