| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 157.8 | 126.48 | 24.762 | 161.85 | -2.502 |
| Gross Profit (Loss) | 0.13 | -11.82 | - | 0.88 | -85.227 |
| Operational Profit (Loss) | -12.24 | -23.64 | -48.223 | -9.6 | 27.5 |
| Net Profit (Loss) after Zakat and Tax | -14.12 | -24.15 | -41.532 | -10.17 | 38.839 |
| Total Comprehensive Income | -14.12 | -24.15 | -41.532 | -10.17 | 38.839 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 514.96 | 459.91 | 11.969 |
| Gross Profit (Loss) | 13.54 | 4.54 | 198.237 |
| Operational Profit (Loss) | -19.23 | -30.01 | -35.921 |
| Net Profit (Loss) after Zakat and Tax | -23.96 | -66.01 | -63.702 |
| Total Comprehensive Income | -23.96 | -66.01 | -63.702 |
| Total Share Holders Equity (after Deducting Minority Equity) | 535.48 | 663.4 | -19.282 |
| Profit (Loss) per Share | -0.47 | -1.29 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| -23.96 | 510 | 4.7 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The net loss of SR 14.12 million in Q3 2019, as compared to a net loss of SR 24.15 million in Q3 2018 is due to the following main reasons: |
(a) Gross profit increased to SR 0.13 million in Q3 2019, due to higher sales volume and change in sales mix, compared to gross loss of SR 11.82 million in Q3 2018.
(b) Reversal of impairment for receivables amounting to SR 0.54 million in current quarter compared to a charge of SR 0.21 million in Q3 2018.
(c) Zakat and income tax charge for current quarter amounting to SR 0.04 million, compared to SR 0.49 million in Q3 2018.
These favorable movements were partially offset by:
(a) Other expenses in the current quarter reaching to SR 1.59 million compared to other expenses of SR 0.08 million in Q3 2018.
(b) Decrease in share of profit in an associate company (Global Pipe Company) during current quarter amounting to SR1.31 million compared to SR 2.48 million in Q3 2018.
(c) Increase in finance charges amounting to SR 3.16 million for current quarter compared to SR 2.51 million in Q3 2018.
(a) Other expenses in the current quarter reaching to SR 1.59 million compared to other income of SR 1.40 million in Q2 2019.
(b) Increase in finance charges for current quarter reaching to SR 3.16 million compared to SR 2.38 million in Q2 2019.
(c) Decrease in gross profit in the current quarter reaching to SR 0.13 million compared to SR 0.88 million in Q2 2019 mainly due to lower sales volume and sales margins, despite a lower gross loss in a subsidiary company (TSM Arabia) during the current quarter.
(d) Increase in selling, marketing and distribution expenses in the current quarter reaching to SR 3.60 million compared to SR 2.94 million in Q2 2019.
(e) Decrease in share of profit in an associate company (Global Pipe Company) during current quarter amounting to SR 1.31 million compared to SR 1.75 million for the previous quarter.
These unfavorable movements were partially offset by:
(a) Reversal of impairment for receivables amounting to SR 0.54 million compared to a charge for the previous quarter of SR 0.59 million.
(b) Decrease in administrative expenses in the current quarter reaching to SR 7.71 million compared to SR 8.35 million for the previous quarter.
(a) Non-recurring property, plant and equipment impairment charge of SR 21 million recognized during previous period.
(b) Share of profit in an associate company (Global Pipe Company) for current period amounting to SR 6.12 million compared to SR 5.54 million a share of loss for similar period of 2018.
(c) Increase in gross profit in the current period reaching to SR 13.54 million, mainly due to change in sales mix, compared to a gross profit of SR 4.54 million during same period last year, despite a higher gross loss in a subsidiary company (TSM Arabia) during current period of SR 7.3 million compared to SR 5.1 million during similar period of 2018 mainly due to project cost overruns.
(d) Decrease in selling, marketing and distribution expenses in the current period reaching to SR 10.28 million compared to SR 12.29 million during similar period of 2018.
(e) Decrease in zakat and income tax charges for current period amounting to SR 0.13 million, compared to SR 1.80 million during similar period of 2018.
(f) Reversal of impairment for receivables amounting to SR 0.57 million compared to a charge for the same period last year of SR 0.45 million.
These favorable movements were partially offset by:
(a) Increase in finance charges for current period reaching to SR 10.72 million compared to SR 7.66 million during similar period of 2018.
(b) Increase in administrative expenses in the current period reaching to SR 23.16 million compared to SR 22.27 million during similar period of 2018.
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