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Saudi Arabian Fertilizer Co. (SAFCO) announces the interim financial results for the period ending on 30-09-2019 (Nine Months)
10/22/2019
| ELEMENT | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CURRENT CHANGE | PREVIOUS QUARTER | % CHANGE PREVIOUS |
|---|---|---|---|---|---|
| Sales/Revenue | 909.71 | 1,008.66 | -9.81 | 813.61 | 11.811 |
| Total Profit (Loss) | 465.08 | 584.54 | -20.436 | 419.71 | 10.809 |
| Profit (Loss) Operational | 363.66 | 481.23 | -24.431 | 324.91 | 11.926 |
| Net Profit (Loss) after Zakat and Tax | 414.21 | 522.24 | -20.685 | 380.44 | 8.876 |
| Total Comprehensive Income | 246.19 | 487.98 | -49.549 | 266.92 | -7.766 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| ELEMENT | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | % CHANGE |
|---|---|---|---|
| Sales/Revenue | 2,442.01 | 2,769.73 | -11.832 |
| Total Profit (Loss) | 1,263.08 | 1,442.1 | -12.413 |
| Profit (Loss) Operational | 984.19 | 1,118.1 | -11.976 |
| Net Profit (Loss) after Zakat and Tax | 1,130.13 | 1,169.9 | -3.399 |
| Total Comprehensive Income | 929.56 | 1,301.8 | -28.594 |
| Total Share Holders Equity (after deducting minority equity) | 7,585.6 | 7,329.09 | 3.499 |
| Profit (Loss) per Share | 2.71 | 2.81 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| ELEMENT | EXPLANATION |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The 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 to | The 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 to | The 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 |