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Saudi Arabian Fertilizer Co. (SAFCO) announces the interim financial results for the period ending on 30-09-2018 ( Nine Months )

10-24-2018

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
Sales/Revenue1,008.66617.2863.403950.316.14
Total Profit (Loss)584.54268.55117.665499.2417.085
Profit (Loss) Operational481.23175.03174.941395.2821.744
Net Profit (Loss) after Zakat and Tax522.24188.42177.168410.4627.232
Total Comprehensive Income487.98215.44126.503425.5414.673
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Sales/Revenue2,769.732,143.4129.22
Total Profit (Loss)1,442.11,050.5637.269
Profit (Loss) Operational1,118.0977444.456
Net Profit (Loss) after Zakat and Tax1,169.9816.1243.349
Total Comprehensive Income1,301.8859.7551.416
Total Share Holders Equity (after deducting minority equity)7,329.096,797.63 7.818
Profit (Loss) per Share2.811.96
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENTEXPLANATION
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous yearThe reason of the increase in the net profit due to increase in sold quantities and increase in average selling prices of Company’s products. In addition, increase in the company’s share of the profit from Ibn Al-Baytar Company.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The reason of the increase in the net profit due to increase in average selling prices of the company’s products and increase in the company’s share of the profit from Ibn Al-Baytar Company. On the other hand, sold quantities of company products decreased, which has partially limiting the positive impact of the increase.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The reason of the increase in the net profit due to the increase in the quantities sold for Company’s products and the average selling prices of the Urea product. In addition, the company's share of the profits from Ibn Al-Baytar increased. On the other hand, costs increased due to the restructuring of the organization to meet future challenges and support of the company's strategy, which was published earlier.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result 

Certain items have been restated in the financial statements for the previous period in line with the presentation of the current period