| 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 company's achievement of a net loss amounted SAR 47.37 Million during the current quarter compared to a net profit amounted SAR 0.55 Million for the same quarter of the previous year is due to the decrease in the selling prices of construction sector by 34.04% which is higher than the 10.47% rate of decrease in cost of sales and leaded to decrease in the amount of the sector's sales by 15.89% despite the increase of the sold quantities by 27.52%. In addition to recording inventory impairment provision for reinforcing steel bars amounted about SAR 37.84 Million and the increase in the financing charges by SAR 11.88 Million and a rate of 172% as a result of the increase in short term loans used in financing the purchases of the raw materials and the increase in the financing interest rates worldwide . |
| 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 in net loss by 164.73% during the current quarter compared to the previous quarter is due to the decrease in the sold quantities and amounts of construction sector by 54.12% and 53.43%, respectively and the increase in cost of sales by 36.79% in construction sector which is higher than the 1.49% increase of the selling prices in the same sector. In addition to recording inventory impairment provision for reinforcing steel bars amounted about SAR 37.84 Million during the current quarter compared to SAR 14.89 Million in the previous quarter. |
| 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 company achieving a net loss amounted SAR 107.16 Million during the current period compared to a net profit amounted SAR 69.72 Million during the same period of last year is due to the decrease in sales of construction sector by 20.45% and the decrease in the selling prices by 27.79% which is higher than the 1.88% rate of decrease in cost of sales in the same sector. In addition to recording inventory impairment provision for reinforcing steel bars amounted about SAR 69.70 Million and the increase in financing costs by SAR 34.51 Million and a rate of 219% due to the increase in the balances of short term loans used to finance purchases of raw materials and the increase of the financing interest rates worldwide . |
| 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 |
No |
| Reclassification of Comparison Items |
Certain comparative figures have been reclassified to conform to the presentation for the current period. |
| Additional Information |
No |
Comments