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Saudi Arabian Fertilizer Co. (SAFCO) announces the interim financial results for the period ending on 30-09-2020 (Nine Months)

20/10/2020

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
Sales/Revenue902.13909.71-0.833928.71-2.862
Total Profit (Loss)485.11465.084.306454.316.779
Profit (Loss) Operational387.99363.666.69359.957.789
Net Profit (Loss) after Zakat and Tax397.53414.21-4.026359.810.486
Total Comprehensive Income451.44246.1983.37409.6110.212
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Sales/Revenue2,559.212,442.014.799
Total Profit (Loss)1,307.361,263.083.505
Profit (Loss) Operational1,026.24984.194.272
Net Profit (Loss) after Zakat and Tax1,060.841,130.13-6.131
Total Comprehensive Income1,028.83929.5610.679
Total Share Holders Equity (after deducting minority equity)7,983.427,585.65.244
Profit (Loss) per Share2.552.71
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 to The reasons of the decrease in the Net Income 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.

Despite the decrease in Net Income, it has been limited by:

• Increase in quantities sold of company's products

• Increase in the other income as the Company has collected dividends from Financial assets at fair value through other comprehensive income

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

• Increase in average selling prices for the company’s products

• Increase in the company’s share of Ibn Ibn Al-Baytar Company Net Income

• Increase in the other income as the Company has collected dividends from Financial assets at fair value through other comprehensive income

Despite the increase in Net Income, it has been limited by:

• Decrease in quantities sold of company's products

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 Income for the current period compared with same period 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.

• Decrease in the other income relevant to company's collection of its profits from financial assets at fair value through other comprehensive income

Despite the decrease in Net Income, it has been limited by:

• Increase in quantities sold of company's products

Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items NA