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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