| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
-
|
62,649
|
-
|
28,344
|
-
|
| Gross profit (loss) |
54,623
|
124,961
|
-
|
109,008
|
-
|
| Operational profit (loss) |
-
|
66,708
|
-
|
36,680
|
-
|
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
30,555
|
228,166
|
- |
| Gross profit (loss) |
284,739
|
446,028
|
- |
| Operational profit (loss) |
82,386
|
234,597
|
- |
| Earning or loss per share, Riyals |
0.61
|
4.56
|
- |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | Reasons of loss in net income for the current quarter compared with the same quarter of previous year are due to decrease in sales caused by shrinking local market demand and the reduction in selling prices in order for the company to maintain its market share which led to decrease in gross profit. This is in addition to increase in General & Administrative expenses since there were nonrecurring savings in the same quarter of previous year, in addition to increase in financing costs, increase in Zakat expense, and decrease in other revenues. In addition, The company had created a provision against impairment in its investment in its associate company Ceramic Pipes Company amounting to 25 million SAR. Furthermore, Selling and marketing expenses were decreased. |
| Reasons of increase (decrease) for period compared with same period last year | Reasons of (decrease) in net income for the current quarter compared with the same quarter of previous year are due to decrease in sales caused by shrinking local market demand and the reduction in selling prices in order for the company to maintain its market share which led to decrease in gross profit. This is in addition to increase in General & Administrative expenses since there were nonrecurring savings in the same quarter of previous year, in addition to increase in financing costs, increase in Zakat expense, and decrease in other revenues. In addition, The company had created a provision against impairment in its investment in its associate company Ceramic Pipes Company amounting to 25 million SAR. Furthermore, Selling and marketing expenses were decreased. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The reasons for loss in the current quarter compared with previous quarter net profit is due to decrease in sales revenues due to seasonal effect of Eid El Fitr, month of Dhul Heja, and Eid Al Adha, which had a negative effect. In addition to decrease in sales caused by lower local market demand and the reduction in selling prices in order for the company to maintain its market share which led to decrease in gross profit. Also increase in financing costs and decrease in other revenues. In addition, The company had created a provision against impairment in its investment in its associate company Ceramic Pipes Company amounting to 25 million SAR. Furthermore, Selling and marketing expenses and general and administrative expenses were decreased. |
| Other notes | The sales revenues for the current quarter reached 233 million SAR compared with the sales revenues for same quarter of previous year which reached 355 million SAR with drop of 122 million SAR representing 34%. Furthermore the sales revenues of the current period reached 953 million SAR compared with the sales revenues for the same period of previous year which reached 1,246 million SAR with drop of 293 million SAR representing 24%. Total shareholders equity as at 30/9/2016 amounted to 1,828 million SAR compared with 1,842 million SAR as at 30/9/2015 (there is no Minority interest ) with drop of 1% |
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