IssuerAnnouncementDetailsV2Portlet
Actions
National Metal Manufacturing and Casting Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 64.31 | 65.75 | -2.19 | 52.6 | 22.262 |
| Gross Profit (Loss) | 1.61 | 3.9 | -58.717 | -3.24 | - |
| Operational Profit (Loss) | -5.72 | -3.42 | 67.251 | -12.02 | -52.412 |
| Net profit (Loss) | -7.39 | -4.9 | 50.816 | -13.06 | -43.415 |
| Total Comprehensive Income | -7.39 | -4.9 | 50.816 | -12.87 | -42.579 |
| 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) | 217.89 | 310.67 | -29.864 |
| Profit (Loss) per Share | -0.21 | -0.14 | |
| 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 | 0.69 | -2.45 | |
| Accumulated Losses | 29.46 | 104.28 | |
| 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 | Reasons for the decrease in sales during current quarter compare to the same quarter last year are decrease in average selling price of drawn wire products, in spite of increased sales quantities for these products by 33%, the value increased only by 13% and the decrease in average selling prices is due to the decrease in steel wire rod which is the raw material for these products. Sales of axles and casting products decreased by about 19% due to decrease in demand mainly for casting products. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Reasons for the increase in losses during current quarter compare to the same quarter last year are decrease in sales due to decrease in average selling price of drawn wire products, in spite of increased sales quantities for these products by 33%, the value increased only by 13% and the decrease in average selling prices is due to the decrease in steel wire rod which is the raw material for these products. However, the decrease in cost not equivalent to the decrease in average selling prices, competition in local and export markets is also pressuring the selling price. Sales of axles and casting products decreased by about 19% due to decrease in demand mainly for casting products. in addition to the above the losses increased because of the increase in selling & distribution expenses, decrease in other income and decrease in profit from deposits with banks. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Sales during current quarter increased compare to the sales during previous quarter due to improvement in sales of drawn wire products by about 12% and sales of axels for trailers, spare parts and casting products improved by about 42% as there are improvements in the demand in the local and export markets. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Reasons for the decrease in losses during current quarter compare to the previous quarter are improvement in sales, decrease in general and administration expenses and the reversal of the provision for doubtful debts. |
| 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) | None |
| Reclassification of Comparison Items | Certain figures have been reclassified to conform the presentation in the current period. |
| Additional Information | The accumulated losses reached SAR 104.28 Million, equivalent to 29.46% of the company’s paid up capital of SAR 354 Million because the following: 1- Decrease in sales of the main products due to low demand in the local and export markets. 2- Competition in the local market from similar products imported from China. 3- Local manufacturers of P.C. Strand product (one of the main products of the company) entered in some exporting countries, negatively impacted the quantities exported to those countries. 4- High fluctuation in the price of high-carbon steel (the raw material for the main products of the company) and it is imported, no local manufacturers. The company came to know that the accumulated losses reached 20% or more from its paid up capital on 30/06/2023 and announced immediately , the company will apply the procedures and instructions applicable on companies listed in Saudi capital market whose accumulated losses reached 20% or more out of the capital. |
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.
Share
Company Performance
Key Parameters
Last Price 13.2
Net Change 0.04 (+0.3%)
Value Traded (Sar) 527,580.48
Volume Traded 39,897
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions