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Saudi Arabian Fertilizer Co. (SAFCO) announces the interim financial results for the period ending on 30-06-2019 (Six Months)

22/07/2019

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
Sales/Revenue813.61950.31-14.384718.6813.208
Total Profit (Loss)419.71499.24-15.93378.2910.949
Profit (Loss) Operational324.91395.28-17.802295.629.907
Net Profit (Loss) after Zakat and Tax380.44410.46-7.313335.4713.405
Total Comprehensive Income266.92425.54-37.274416.45-35.905
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Sales/Revenue1,532.291,761.08-12.991
Total Profit (Loss)798857.56-6.945
Profit (Loss) Operational620.53636.87-2.565
Net Profit (Loss) after Zakat and Tax715.91647.6610.537
Total Comprehensive Income683.36813.82-16.03
Total Share Holders Equity (after deducting minority equity)7,339.416,841.117.283
Profit (Loss) per Share1.721.55
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 year The reason of the decrease in net profit is due to the decrease in quantities sold as a result of implementing SAFCO 3 relaibility project and performing scheduled maintenance
activites which is minimized by the increase in average selling prices of company's products and the increase in the other income as a result of dividends received from available
 for sale investments and the increase in the share of income of 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 net profit is due to the increase in quantities sold and the increase in average selling prices of company's products and the increase in the other income as a result of dividends received from available for sale investments.
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 increase in average selling prices of the company's products despite the decrease in quantity sold as a result of implementing SAFCO 3 relaibility project and performing scheduled maintenance activites. Additionally, an increase in other income is due to dividends received from available for sales investments and the increase in the share of income of Ibn Al-Baytar Company. It is worth mentioning that during previous period the company went through an organizational changes to prepare for future challenges and to support its strategy, therefore additional costs was incurred for these changes during the previous period.
Type of the external auditor's opinion Unmodified opinion