Saudi Company for Hardware announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

17 May 2023 08:00 AM

SACO 4008 44.34% 38.25 11.75

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	240.27	319.51	-24.8	311.9	-22.96
Gross Profit (Loss)	27.86	56.06	-50.3	-23.73	-
Operational Profit (Loss)	-8.75	12.46	-	-68.94	-87.31
Net Profit (Loss) after Zakat and Tax	-16.52	1.11	-	-77.21	-78.6
Total Comprehensive Income	-16.52	1.11	-	-77.21	-78.6
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	397.25	557.29	-28.72
Profit (Loss) per Share	-0.46	0.03
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 loss during this quarter was mainly due to the drop in sales of compared with the same quarter of the previous year.
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 decrease in the loss during the current quarter compared to the previous quarter was due to an increase in inventory provisions and impairment loss on non-financial assets booked during the previous quarter.
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	None
Reclassification of Comparison Items	Comparative period figures have been reclassified to conform with current period classification numbers.

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