Almasane Alkobra Mining Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

09 August 2022 03:58 PM

Default Company 1322.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	144,644,174	146,623,161	-1.35	157,991,124	-8.45
Gross Profit (Loss)	56,849,080	71,501,533	-20.49	68,057,844	-16.47
Operational Profit (Loss)	41,597,119	56,507,517	-26.39	49,660,745	-16.24
Net Profit (Loss) after Zakat and Tax	40,413,727	58,429,719	-30.83	41,815,038	-3.35
Total Comprehensive Income	41,699,023	57,890,112	-27.97	41,598,605	0.24
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	302,635,298	264,209,935	14.54
Gross Profit (Loss)	124,906,924	118,611,589	5.31
Operational Profit (Loss)	91,257,864	92,494,730	-1.34
Net Profit (Loss) after Zakat and Tax	82,228,765	92,753,328	-11.35
Total Comprehensive Income	83,297,628	92,213,721	-9.67
Total Share Holders Equity (after Deducting Minority Equity)	1,337,034,807	544,199,769	145.69
Profit (Loss) per Share	1.37	1.69
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 reason for the decrease in net profit during the current quarter compared to the same quarter of last year is due to the decrease in sales as a result of the decrease in the realized prices for most minerals despite the increase in production and selling quantities, in addition to the increase in the cost of sales due to the increase in the amount of sales and the increase in the calculation of extinguishing fees and the financial consideration for exploitation in addition to the increase in taxes And zakat in the current quarter due to the registration of a credit tax in the same quarter of last year, which was offset by an increase in other revenues.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	The reason for the slight decrease in net profit for the current quarter compared to the previous quarter is due to a slight decrease in sales by 8% as a result of the decrease in the realized prices of most minerals, despite the increase in production and selling quantities, which was offset by a decrease in general and administrative expenses and financing cost, an increase in other revenues and a decrease in Zakat expense.
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 reason for decrease in net profit during the current period compared to the same period last year is due to the increase in general and administrative expenses as a result of the company’s registration of its share and expenses related to the initial public offering, in addition to the increase in selling and marketing expenses and increase in Zakat expense compared to a credit tax in the same period of last year, despite an increase in sales and gross profit during the period as a result of the operation of the Guyan mine at full capacity.
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	N/A
Reclassification of Comparison Items	Certain of the prior period amounts have been reclassified to conform with the presentation in the current period. These changes have been made to improve the quality of information presented. Such reclassification changes do not affect previously reported profit or equity.
Additional Information	Profit per share is calculated by dividing the profit after zakat and taxes by the weighted average number of ordinary shares outstanding during the period amounting to 60,159,752 shares (30-Jun-2021: 54,870,015 shares).

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