2130 · 23/05/2023 15:42:31 · Announcement #73900 · View on Saudi Exchange

Saudi Industrial Development Co. announces its Interim Financial Results for the Period Ending on 31-03-2023AD ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 41.7341.410.7734.1322.27
Gross Profit (Loss) 11.276.0985.064.1174.88
Operational Profit (Loss) -2.45-5.97-58.96-20.24-87.89
Net Profit (Loss) after Zakat and Tax -0.66-4.8-86.25-20.31-96.75
Total Comprehensive Income -4.1718.12-28.23-
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 162.74222.14-26.74
Profit (Loss) per Share -0.02-0.12
All figures are in (Millions) Saudi Arabia, Riyals
Accumulated LossesCapitalPercentage %
63.8640015.97
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
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 increase in net profit during the current quarter of the year 2023AD compared to the same quarter of the previous year 2022AD was due to increase in average product selling prices, decrease in operational losses due to decrease in operating expenses and production costs and the reversal of provision for non-outstanding liabilities.
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 higher net profit during the current quarter of the year 2023AD compared with the previous quarter (4th, quarter) of the year 2022AD was due to the lower recorded impairment of assets, increase in average selling prices, decrease in operational losses resulting from decreased operating expenses and production costs and the reversal of provision for non-outstanding liabilities.
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 The Group's interim condensed consolidated financial statements for the three-months ending on March 31st, 2022AD, were examined by another auditor (different), who expressed a modified conclusion in his report dated 18 Shawal 1443H corresponding to 19 May 2022AD.
Reclassification of Comparison Items Some comparison figures for the financial period ended March 31, 2022AD have been reclassified to be consistent with the current financial period ended March 31, 2023AD figures.

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