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Saudi Automotive Services Co. (SASCO) announces interim financial results for the period ended March 31, 2024 (Three Months)

4050
SASCO
-2.92 %
1445/10/22     01/05/2024 15:35:53

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 2,453.172,220.1810.4942,334.325.091
Gross Profit (Loss) 76.4378.95-3.19166.5314.88
Operational Profit (Loss) 47.5549.04-3.03825.3287.796
Net profit (Loss) 10.0112.25-18.28565.46-84.708
Total Comprehensive Income 12.2112.29-0.6545.65-73.253
All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (After Deducting the Minority Equity) 887.21828.137.134
Profit (Loss) per Share 0.170.2
All figures are in (Millions) Saudi Arabia, Riyals


Element ListPercentage of the capital (%)Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
All figures are in (Millions) Saudi Arabia, Riyals


Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason for the increase in sales during the current quarter compared to the same quarter of the previous year is due to the growth in the number of stations in addition to an increase in the selling price of diesel product.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to the increase in cost of revenues, in addition to the increase in selling and marketing expenses, financing costs, and the decrease in other revenues, despite increase in revenues and the decrease in G&A expenses, provision for credit losses, and Zakat expenses.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for the increase in sales during the current quarter compared to the previous quarter is the growth in the number of stations in addition to the increase in the selling price of diesel product
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to the previous quarter’s inclusion of the profit resulting from the evaluation of investment properties, in addition to the increase in selling and marketing expenses, financing costs, Zakat expense, and the decrease in investment revenues, despite the growth in sales, which led to the growth of overall profit and income of the main operations.
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) Nothing
Reclassification of Comparison Items The comparative financial statements have been amended and reclassified to conform with the accounting policies applied for this year, which have been prepared in accordance with (IFRS), and the endorsements, interpretations, and other standards approved by the Saudi Organization for Certified Public Accountants (SOCPA). This has been explained in the notes to the Interim consolidated financial statements as at March,31 2024
Additional Information -
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The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 69.9
Net Change -2.1 (-2.92%)
Value Traded (Sar) 17,261,703.9
Volume Traded 242,470
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