Najran Cement Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER % CHANGE
Sales/Revenue 53,845 59,111 -8.908 55,313 -2.653
Total Profit (Loss) -6,635 -784 746.301 -13,479 -50.775
Profit (Loss) Operational -15,023 -9,573 56.93 -22,906 -34.414
Net Profit (Loss) after Zakat and Tax -23,725 -17,060 39.067 -31,732 -25.233
Total Comprehensive Income -23,725 -17,060 39.067 -31,732 -25.233
All figures are in (Thousands) Saudi Arabia, Riyals
ELEMENT LIST CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR %CHANGE
Sales/Revenue 206,184 248,502 -17.029
Total Profit (Loss) -10,412 40,092
Profit (Loss) Operational -38,610 11,733
Net Profit (Loss) after Zakat and Tax -65,634 -10,067 551.971
Total Comprehensive Income -65,634 -10,067 551.971
Total Share Holders Equity (after deducting minority equity) 1,952,551 2,028,883 -3.762
Profit (Loss) per Share -0.39 -0.06
All figures are in (Thousands) Saudi Arabia, Riyals
ACCUMULATED LOSSES CAPITAL PERCENTAGE %
0 1,700,000 0
ELEMENT LIST EXPLANATION
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The increase in net loss is mainly attributable to lower average selling price as a result of subdued market demand for cement and fierce competition, despite the increase in sales volume, in addition to an increase in financial charges.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter Net loss decreased due to the rationalization of production costs as a result of control over operating and non operating costs and decrease in financial charges and deprecation cost despite the decrease in sales volume as a result of subdued market demand for cement and increase in zakat provision
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The increase in net loss is mainly attributable to lower average selling price and the decrease in sales volume as a result of subdued market demand for cement in addition to the increase in production cost due to low production capacity utilization despite the company’s initiatives to cut cost, in addition to reporting other expenses compared to other income during the same period last year, and an increase in financial charges
Type of the external auditor’s opinion Unmodified opinion
External auditor’s report containing reservation None
Reclassifications in quarter financial result There is no material reclassification in the quarter financial results

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