| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,224.52 | 1,034.56 | 18.361 | 1,550.86 | -21.042 |
| Gross Profit (Loss) | 225.59 | 185.82 | 21.402 | 276.12 | -18.3 |
| Operational Profit (Loss) | 64.98 | 38.4 | 69.218 | 112.97 | -42.48 |
| Net Profit (Loss) after Zakat and Tax | 53.44 | 27.23 | 96.254 | 90.38 | -40.871 |
| Total Comprehensive Income | 53.43 | 27.23 | 96.217 | 90.31 | -40.837 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 4,007.62 | 3,253.57 | 23.176 |
| Gross Profit (Loss) | 722.47 | 600.26 | 20.359 |
| Operational Profit (Loss) | 228.62 | 158.89 | 43.885 |
| Net Profit (Loss) after Zakat and Tax | 178.5 | 133.53 | 33.677 |
| Total Comprehensive Income | 178.42 | 133.6 | 33.547 |
| Total Share Holders Equity (after Deducting Minority Equity) | 728.64 | 587.34 | 24.057 |
| Profit (Loss) per Share | 2.98 | 2.23 | |
| 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 company achieved net profit of SR 53.4m vs. SR 27.2m for same quarter last year, achieving an increase of 96.2%, as Q3 2020 revenues grew by 18.4% vs. same quarter last year. That was due to sales increase across all of company's divisions, in addition to increase in eXtra Services revenues and consumer finance services revenues. This led to grow of company's gross profit by 21.4% to register a gross profit of SR 225.6m vs. SR185.8m for same quarter last year. It's worth noting that, United Company for Financial Services registered net profit of SR 6m vs. losses of SR 5.6m for same quarter last year. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The company achieved net profit of SR 53.4m vs. SR 90.4m for last Quarter, as revenues dropped by 21% vs. last quarter, as a result of issuance VAT hike decree in Q2 this year, which led to significant increase in sales before adoption of new VAT in Q3. In Addition to the seasonal impact of sales, which led to decrease on gross profit and net profit. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The company achieved net profit of SR 178.5m vs. SR 133.5m for same period last year. That was due to sales increase with 23.2% across all of company's divisions, in addition to increase in eXtra Services revenues and consumer finance services revenues. This led to grow of company's gross profit by 20.4% to register a gross profit of SR 722.5 vs. SR600.3m for same period last year, which led to an 33.6%increase in company's net profit despite Increase in SG&A vs. same period last year. It's worth noting that, United Company for Financial Services registered net profit of SR 6.2m vs. losses of SR 15.7m for same Period last year. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to be consistent with the presentation of the current period. |
| Additional Information | During Q3 2020, some operating expenses decreased due to some support initiatives offered by government of the Kingdom of Saudi Arabia to mitigate the effects of precautionary measures applied to contain COVID-19 outbreak. |
Earning per share for the previous year has been modified after approval of capital increase which has been approved on 5th of May 2020 in the extraordinary General Assembly meeting.
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.