| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
-
|
408.3
|
-
|
-
|
67.61
|
| Gross profit (loss) |
820.5
|
1,361.9
|
-
|
706.8
|
16.09
|
| Operational profit (loss) |
184
|
915.2
|
-
|
232.5
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
-
|
729.1
|
- |
| Gross profit (loss) |
1,527.3
|
2,661.8
|
- |
| Operational profit (loss) |
416.5
|
1,744.7
|
- |
| Earning or loss per share, Riyals |
-
|
1.09
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The reported loss is attributable to lower product sales prices increased general and administrative expenses as a result of the company restructuring and transformation projects an impairment charge to non-current assets at one of the subsidiary companies and increased other expenses. |
| Reasons of increase (decrease) for period compared with same period last year | The reported loss is attributable to lower product sales prices and increased other expenses due to recording the negative fair value of hedging and derivative contracts which were entered into by a subsidiary company with several local banks to hedge against foreign currency exposure risk as well as an impairment charge to non-current assets at one of the subsidiary companies. In addition general and administrative expenses increased as a result of the company restructuring and transformation projects. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The reported loss is lower than the previous quarter due to higher selling prices for certain products, and decreased other expenses due to the settlement of hedging and derivative contracts which were entered into by a subsidiary company with several local banks whose negative fair value was recorded in the previous quarter. Note that this was despite higher general and administrative expenses and the recording of an impairment charge to non-current assets at one of the subsidiary companies during the current quarter. |
| Reclassifications in quarterly financial results | some corresponding figures for the last period have been reclassified to be aligned with the presentation of the current period. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.