Saudi advanced industries company (SAIC) announces its financial results for the period ending 30 September 2023 (nine months)
- Date : 2023-11-02
| Element List | Current Quarter | Similar Quarter For Previous Year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 46.03 | 25.97 | 77.24 | 53.59 | -14.11 |
| Gross Profit (Loss) | 46.03 | 25.97 | 77.24 | 53.59 | -14.11 |
| Operational Profit (Loss) | 40.86 | 22.46 | 81.92 | 50.66 | -19.34 |
| Net Profit (Loss) after Zakat and Tax | 38.94 | 22.1 | 76.2 | 50.16 | -22.37 |
| Total Comprehensive Income | 39.06 | 8.93 | 337.4 | 55.99 | -30.24 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar Period For Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 124.97 | 91.49 | 36.59 |
| Gross Profit (Loss) | 124.97 | 91.49 | 36.59 |
| Operational Profit (Loss) | 114.09 | 80.91 | 41.01 |
| Net Profit (Loss) after Zakat and Tax | 111.17 | 80.36 | 38.34 |
| Total Comprehensive Income | 118.44 | 8.16 | 1,351.47 |
| Total Share Holders Equity (after Deducting Minority Equity) | 962.45 | 908.59 | 5.93 |
| Profit (Loss) per Share | 1.88 | 1.36 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to:
• Increase in profits from selling shares in associated companies. • Increase in profit from selling financial assets at fair value through profit or loss. • Increase in dividends earned. in spite of: • Decrease in the company share of associate companies’ profits. • Increase in unrealized Losses from financial assets at fair value through profit or loss. • Increase in financing costs. • Increase in general and administrative expenses • Increase in the zakat expenses. • Decrease in other income. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to:
• Increase in unrealized losses from financial assets at fair value through profit or loss. • Decrease in profit from selling financial assets at fair value through profit or loss. • Decrease in dividends earned. • Decrease in the company share of associate companies’ profits. • Increase in general and administrative expenses. • Increase in financing costs. in spite of: • Increase in profits from selling shares in associated companies. • Increase in other income. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the increase in net profit for the current period compared to the similar period of the previous year is due to:
• Increase in profits from selling shares in associated companies. • Increase in profit from selling financial assets at fair value through profit or loss. • Increase in unrealized gains from financial assets at fair value through profit or loss. • Increase in dividends earned. in spite of: • Decrease in the company share of associate companies’ profits. • Increase in financing costs. • Increase in general and administrative expenses • Increase in the zakat expenses. • Decrease in other income. |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | there is no |
| Reclassification of Comparison Items | there is no |
| Additional Information | The company transferred 1 million shares of Obeikan Glass Company shares to United permanent growth investment Company (Affiliated company). with the aim of strengthening the financial position of the affiliated company and achieving the desired investment objectives. This transfer did not result in any financial impact.
Earnings per share were adjusted due to a company starting to purchase treasury shares based on the approval of the extraordinary general assembly on January 25, 2023, as the company purchased 872,257 shares of treasury shares.
The company’s share of the profits of associate companies amounted to 8.07 million riyals during the current quarter, compared to 26 million riyals during the same quarter of the previous year, with a decrease of 69%. |
| Attached Documents |  |