26 OCT 2020
| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
|---|---|---|---|---|---|
| Sales/Revenue | 1,510.3 | 1,481.56 | 1.939 | 3,532.43 | -57.244 |
| Gross Profit (Loss) | 379.93 | 296.11 | 28.307 | 962.59 | -60.53 |
| Operational Profit (Loss) | 303.16 | 259 | 17.05 | 915.18 | -66.874 |
| Net Profit (Loss) after Zakat and Tax | 313.74 | 146.73 | 113.821 | 760.61 | -58.751 |
| Total Comprehensive Income | 315.49 | 146.5 | 115.351 | 757.82 | -58.368 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
|---|---|---|---|
| Sales/Revenue | 7,124.91 | 4,627.61 | 53.965 |
| Gross Profit (Loss) | 1,903.85 | 962.42 | 97.819 |
| Operational Profit (Loss) | 1,724.13 | 840.47 | 105.138 |
| Net Profit (Loss) after Zakat and Tax | 1,493.57 | 371.62 | 301.907 |
| Total Comprehensive Income | 1,493.04 | 370.68 | 302.784 |
| Total Share Holders Equity (after Deducting Minority Equity) | 9,917.7 | 8,961.05 | 10.675 |
| Profit (Loss) per Share | 3.79 | 0.94 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| ELEMENT LIST | EXPLANATION |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The increase in net income for the current quarter compared to the corresponding quarter last year is mainly due to:-
- The increase in returns of several operating segments supported mainly by the growth in oil transport sector as a result of the rise in transport rates. - Decrease in zakat and income tax expense as a result of the reversal of the deferred tax provision, pursuant to Royal Decree M\153 amending Article 2(a) of the Saudi Arabian Income Tax Law, shares in the Kingdom of Saudi Arabia's resident listed companies held, directly or indirectly, by oil and hydrocarbon producing companies are subject to Zakat rather than income tax. - The decrease in financing expenses during the current quarter compared to the same quarter of the previous year. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The decrease in net income for the current quarter compared to the previous quarter is mainly due to:
- The decline in revenues from several sectors, especially from the oil sector, due to the decline in transport rates in addition to the decrease in number of voyages during the third quarter compared to the previous quarter of the year. Nevertheless, the following factors contributed to reduce the impact of the decline in returns: - Decrease in zakat and income tax expense as a result of the reversal of the deferred tax provision. - Decrease in financing expenses during this quarter compared to the previous quarter. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The increase in net income for the current period compared to the corresponding period last year is mainly due to:
-The increase in returns of several operating segments supported mainly by the growth in oil transport sector due to the rise of transportation rates in addition to the increase in number of voyages during the period. - The decrease in financing expenses during the current period compared to the same period of the previous year. Additionally, the group's share of results in investment in associate companies recognized profit during the current period compared to losses recognized in the corresponding period of the previous year. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain comparative figures of the prior period have been reclassified to match with the presentation of the current period. |
| Additional Information | None |