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Tabuk Cement Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
3090
TCC
0.00
%
1445/11/11 19/05/2024 07:46:57
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 87.05 | 86.28 | 0.892 | 66.29 | 31.316 |
| Gross Profit (Loss) | 22.77 | 30.61 | -25.612 | 2.07 | 1,000 |
| Operational Profit (Loss) | 19.96 | 22.68 | -11.992 | 3.64 | 448.351 |
| Net profit (Loss) | 16.11 | 19.35 | -16.744 | -5.42 | - |
| Total Comprehensive Income | 15.17 | 18.37 | -17.419 | -27.49 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,306.62 | 1,302.25 | 0.335 |
| Profit (Loss) per Share | 0.179 | 0.215 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage 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 List | Explanation |
|---|---|
| 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 increase in sales/revenue during the current quarter compared to the sales/revenue for the same quarter of the previous year is due to: Increase in sales quantities . |
| 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 decrease in net profit during the current quarter compared to the net profit for the same quarter of the previous year is due to: 1. Decrease in the average selling prices . 2. Increase in cost of sales . |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for increase in sales/revenue during the current quarter compared to the sales/revenue for the previous quarter is due to: 1. Increase in sales quantities . 2. Increase in the average selling prices . |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for increase in net profit during the current quarter compared to the net profit for the previous quarter is due to: 1. Increase in sales value & quantities . 2. Increase in the average selling prices . |
| 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) | N/A |
| Reclassification of Comparison Items | Restated : The company's management made an amendment to the financial statements in the period as follows :- (1) Statement of the profit or loss and other comprehensive income for the first quarter of 2023 , valuation of derivative financial instruments , specifically interest rate swap , which are used hedge risks associated with interest rate fluctuations . In accordance with the company's policy , these derivative instruments are designated as cash flow hedges. When a derivative instrument contract is initiated , it initially recorded at fair value . They are then remeasured at fair value , with any resulting differences affecting financial position accordingly . Financial derivatives are recognized as assets where their fair value is positive ( Note 24) . (2) Statement of financial position as of January 1 , 2023 and December 31 , 2023 , Recording prior year's Zakat allocation , as the Zakat , Tax , and Customs Authority released zakat assessments for the years 2019 to 2022 , resulting in additional zakat discrepancies of 4.731.427 Saudi Riyals . These discrepancies are caused by the failure to incorporate some things in the calculation of the returns fiiled by the company's managment to the authority at the time specified by the system . The Authority deemed this to be an accounting error . It was added to the financial statement for the year's corresponding to these assessments . The amendment relates to the year's 2019 , 2021 , and 2022 ( Note 24 ) . |
| Additional Information | Unrealized losses during the previous quarter , were recorded amount to (17.978.890) Saudi riyals within the other comprehensive income items that will not be reclassified later under profit or loss , and these losses result from re-measurement of investments in equity instruments fair value . |
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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