THIS SITE USES COOKIES

The cookie settings on this website are set to 'allow all cookies' to give you the very best experience. If you continue without changing these settings, you consent to this - but if you want, you can change your settings at any time at the bottom of this page.



Saudi Arabian Fertilizer Co. (SAFCO) announces the interim financial results for the period ending on 30-09-2019 (Nine Months)

22/10/2019

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
Sales/Revenue909.711,008.66-9.81813.6111.811
Total Profit (Loss)465.08584.54-20.436419.7110.809
Profit (Loss) Operational363.66481.23-24.431324.9111.926
Net Profit (Loss) after Zakat and Tax414.21522.24-20.685380.448.876
Total Comprehensive Income246.19487.98-49.549266.92-7.766
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Sales/Revenue2,442.012,769.73-11.832
Total Profit (Loss)1,263.081,442.1-12.413
Profit (Loss) Operational984.191,118.1-11.976
Net Profit (Loss) after Zakat and Tax1,130.131,169.9-3.399
Total Comprehensive Income929.561,301.8-28.594
Total Share Holders Equity (after deducting minority equity)7,585.67,329.093.499
Profit (Loss) per Share2.712.81
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENTEXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed toThe reasons of decrease in the net profit for the current quarter compared to the same quarter last year:
• Decrease in quantities sold and average selling prices for the company’s products.
• Decrease in the company’s share of Ibn Al-Baytar net income.
• Decrease in the other income as the Company has collected dividends from the financial assets for the same quarter last year.
It is worth mentioning that during current quarter, Zakat provision has been reduced as the Company received revised Zakat assessments up to year 2017.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed toThe reasons of the increase in the net profit for the current quarter compared to previous quarter:
• Increase of quantities sold and average selling price for the company’s products.
• Zakat provision has been reduced as the Company received revised Zakat assessments up to year 2017.
However, the increases in the current quarter have been affected by:
• Decrease in the other income as the Company has collected dividends from the financial assets last quarter
• Decrease in the Company’s share of the net income of Ibn Al-Baytar.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed toThe reasons of the decrease in net profit for the current period compared with same period last year:
• Decrease in quantities sold of the company's products.
On the other hand, the decreases have been affected by:
• An increase in the sales of Urea resulted from the increase in selling price.
• An increase in other income as a result of collection of dividends from the financial assets.
• An increase in the Company’s share of net income of Ibn Al-Baytar during this year.
• Zakat provision has been reduced as the Company received revised Zakat assessments up to year 2017.
Basis of the External Auditor's Opinion Unmodified opinion