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Saudi Arabian Fertilizer Co. (SAFCO) announces the interim financial results for the period ending on 31-12-2019 (Twelve Months)

23/01/2020

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
Sales/Revenue845.581,090.1-22.43909.71-7.049
Gross Profit (Loss)425.62689.15-38.239465.08-8.484
Operational Profit (Loss)341.2578.11-40.98363.66-6.176
 Net Profit (Loss) after Zakat and Tax338.26568.53-40.502414.21-18.336
 Total Comprehensive Income374.13576.96-35.154246.1951.967
All figures are in (Millions) Saudi Arabia, Riyals

Element ListCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Sales/Revenue3,287.583,859.84-14.826
Gross Profit (Loss)1,688.72,131.25-20.764
Profit (Loss) Operational1,325.391,696.2-21.861
Net Profit (Loss) after Zakat and Tax1,468.391,738.44-15.534
Total Comprehensive Income1,303.681,878.76-30.609
Total Share Holders Equity (after deducting minority equity)7,959.737,906.050.678
Profit (Loss) per Share3.524.17
All figures are in (Millions) Saudi Arabia, Riyals

EIEMENT LISTEXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to The reasons of the decrease in the net profit for the current quarter compared to the same quarter last year:

• Decrease in average selling prices for the company’s products.

• Decrease in the company’s share of Ibn Ibn Al-Baytar Company net income.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reasons of the decrease in the net profit for the current quarter compared to previous quarter:

• Decrease in average selling prices for the company’s products.

• Zakat provision has been reduced for previous quarter as the Company received revised Zakat assessments up to year 2017.

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 the net profit for the current period compared with same period last year:

• Decrease in quantities sold and average selling prices of the company's products.

On the other hand, the decreases been limited by:

• Zakat provision has been reduced for previous period as the Company received revised Zakat assessments up to year 2017.

Basis of the External Auditor's Opinion  Unmodified opinion
Reclassification of Comparison Items Certain items have been reclassified in the financial statements for the previous period in line with the presentation of the current period