Aldrees Petroleum and Transport Services Company (ALDREES) announces its Financial results for the period ending on 2022-12-31 (Twelve Months)

22 January 2023 03:39 PM

ALDREES 4200 44.10% 166.00 50.80

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	3,332.2	2,620.4	27.16	3,256.2	2.33
Gross Profit (Loss)	171.5	128.7	33.26	150.4	14.03
Operational Profit (Loss)	107.3	82.7	29.75	94.4	13.66
Net Profit (Loss) after Zakat and Tax	71.8	54.1	32.72	61.7	16.37
Total Comprehensive Income	56.6	39.9	41.85	61.7	-8.27
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	12,356.1	9,109.6	35.64
Gross Profit (Loss)	594.6	451.4	31.72
Operational Profit (Loss)	370.8	284.8	30.2
Net Profit (Loss) after Zakat and Tax	241.8	176.8	36.76
Total Comprehensive Income	226.7	162.7	39.34
Total Share Holders Equity (after Deducting Minority Equity)	1,109.3	995.1	11.48
Profit (Loss) per Share	3.22	2.36
All figures are in (Millions) 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 increase of net profit for the current quarter compared with the same quarter last year is due to the increase of Petrol and Transport Divisions sales, and increase of Other Income and the income from Sukuk investment listed as amortized cost, although there is a decrease of profit of the joint venture and the increase of Marketing, General, Administrative, Financial and Zakat expenses. Total comprehensive income increased during the current quarter compared to the same quarter of the previous year, despite the increase in re-classification losses for employees' defined benefits obligations.
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 increase of net profit for the current quarter compared with the previous quarter is due to the increase of Petrol and Transport Divisions sales, and increase of income from Sukuk investment listed as amortized cost although there is a decrease of other income and the decrease of profit of the joint venture, and the increase in Marketing, General, Administrative and Financial Expenses. Total comprehensive income increased during the current quarter compared to the previous quarter of the previous year, despite the increase in re-classification losses for employees' defined benefits obligations.
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 the increase of net profit for the current period compared with the same period of last year is due to the increase of Transport and Petrol Divisions sales, and the increase of Other Income and the income from Sukuk investment listed as amortized cost although there is decrease in investment profits in the joint venture and the increase in marketing expenses, general and administrative expenses, financial expenses, and Zakat expenses. The increase in total comprehensive income during the current period compared to the same period of the previous year, despite the increase in the re-measurement losses of employees' defined benefit obligations.
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 in line with the current year's classification.
Additional Information	Adjustment of income from operating operations for the previous year, the 4th quarter of the previous year, and the previous quarter of the current year results from reclassifying other revenues from within operations, in addition to adjusting realized and unrealized profits from the revaluation of investment at fair value through profit and loss. Diesel price has been adjusted.

Comments