In order to bring you the best possible user experience, this site uses Javascript. If you are seeing this message, it is likely that the Javascript option in your browser is disabled. For optimal viewing of this site, please ensure that Javascript is enabled for your browser.

News

National Shipping Company of Saudi Arabia announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

22 April 2019
ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER % CHANGE
Sales/Revenue 1,705.77 1,457.32 17.048 1,781.7 -4.261
Total Profit (Loss) 426.18 303.78 40.292 398.11 7.05
Profit (Loss) Operational 377.18 256.91 46.814 386.21 -2.338
Net Profit (Loss) after Zakat and Tax 179.33 123.14 45.63 91.41 96.182
Total Comprehensive Income 179.25 123.14 45.566 83.45 114.799
All figures are in (Millions) Saudi Arabia, Riyals
 
ELEMENT LIST CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR %CHANGE
Total Share Holders Equity (after deducting minority equity) 9,557 9,618 -0.634
Profit (Loss) per Share 0.46 0.31
All figures are in (Millions) Saudi Arabia, Riyals
 
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 income for the current quarter compared to the corresponding quarter last year is mainly due to:-

 

 

There is an increase in operational profit during the current quarter due to the improvement in some of the company's business units and the increase in the transportation rates in general despite the increase in financing cost.

Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The increase in net income for the current quarter compared to the previous quarter is mainly due to:

 

 

- There is an increase in gross profit during the current quarter due to the improvement in some of the company's business units and the increase in the transportation rates in general.

-The decrease in losses of investment in associates during the current quarter.

-The decrease in the Finance Cost mainly due to the decrease in losses in financial derivatives revaluation .

-On the other hand, administrative and general expenses for the current quarter increased due to the increase in some provisions while some provisions were reversed in the previous quarter.

Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Certain comparative figures of the prior period have been reclassified to conform with the presentation of the current period.
Additional Information The company applied IFRS 16 with a date of initial application of 1 January 2019. The initial application resulted in recognition of right-of-use assets, and additional lease liabilities.