Saudi Advanced Industries Co. announces its Annual Financial Results for the Period Ending on 2020-12-31
- Date : 2021-03-16
| ELEMENT LIST | CURRENT YEAR | PREVIOUS YEAR | %CHANGE | ||
|---|---|---|---|---|---|
| Sales/Revenue | 36.78 | 44.39 | -17.143 | ||
| Gross Profit (Loss) | 36.78 | 44.39 | -17.143 | ||
| Operational Profit (Loss) | 29.07 | 34.58 | -15.934 | ||
| Net Profit (Loss) after Zakat and Tax | 26.07 | 28.55 | -8.686 | ||
| Total Comprehensive Income | 53.43 | 11.92 | 348.238 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 839.75 | 798.83 | 5.122 | ||
| Profit (Loss) per Share | 0.52 | 0.57 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| ELEMENT LIST | EXPLANATION |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reasons for the decrease in the net profit for the current year compared with the previous year are:
-decrease in revenue due to decrease in dividends distribution even though increase in company shares from subsidiaries profits, and increase in Zakat expenses, although there is decrease in general and administrative expenses, Financial costs, and write off dividends due from one of the company’s investments during the previous year and increase in other revenues during current year compared with the previous year |
| Statement of the type of external auditor’s report | Unmodified opinion |
| Reclassification of Comparison Items | Certain comparative figures for the previous year have been reclassified and adjusted to conform with the presentation used for the current year. For more information refer to Note 27 attached to the annual financial statements for the year 2020 |
| Additional Information | – Total shareholders ‘ equity (no minority interest) as at the end of the current year amount 839.75 million riyals compared to 798.83 million riyals at the end of the previous year, with an increase of 5.12%.
– Total comprehensive income for the current year reached 53.43 million SR compared to 11.92 million SR for the previous year with a increase of 348.24% |