| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 899.9 | 846.8 | 6.27 | ||
| Gross Profit (Loss) | 232.6 | 236.6 | -1.69 | ||
| Operational Profit (Loss) | 49.3 | 83.9 | -41.239 | ||
| Net Profit (Loss) after Zakat and Tax | 2.4 | 43.3 | -94.457 | ||
| Total Comprehensive Income | 8.6 | 36.1 | -76.177 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 461.9 | 453.3 | 1.897 | ||
| Profit (Loss) per Share | 0.07 | 1.38 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to | The Decrease in Net profit for the current year as compared to the previous year is due to: |
1- Increase Sales Discounts for the company in Saudi Arabia and in Egypt to protect market share; and due to the implementation of IFRS 15 for sales returns
2- Increase in the Cost of GoodsSold for the company in Saudi Arabia and in Egypt due to an increase in raw material prices; and due to a provision built for slow moving inventory in the amount of SAR 7.6M
3- Decrease in Other Operating Income this year versus last year as last year was including a reversal of bad debts provision due to a re-evaluation done in accordance to IFRS 9
4- Increase in General and Administrative expenses in the company in Egypt as a result of the implementation of the new regulations from Ministry of Health
5- Increase in the General and Administrative expenses in the company in Saudi Arabia as result of developing the ERP system and renewing its annual operating license; in addition to the implementation of IFRS 16 as of 1 January 2019, which reflected an increase in the depreciation; plus an increase in the end-of service expenses based on actuarial evaluation.
6- Increase in Sales and Distribution expenses in Egypt due to a hierarchical restructure in the sales department and the opening of new sales branches during the current period; in addition to the implementation of IFRS 16, which reflected an increase in depreciation
7- Increase Sales and Distribution expenses in Saudi Arabia due to an increase in promotional activities and discounts to compete in the local market; in addition to an increase in the bad debts provision as a result of an evaluation according to IFRS 9; plus the implementation IFRS 16 as of 1 January 2019 in Saudi Arabia which reflected an increase in depreciation
8- The current period shows losses of SAR 1.2 million as a result of the re-evaluation of financial derivatives on exchange interest rates with one of the local banks to counter interest rate fluctuations
9- Increase in Finance Charges due to the new long-term loan from Banque Saudi Fransi from the current period in addition to the implementation of IFRS 16 as of 1 January 2019
10-Increase in income tax in the company in Egypt due to the increase earnings before tax
11- Increase in the tax expenses due to the implementation of the new regulation of the General Authority of Zakat and Income
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