IssuerAnnouncementDetailsV2Portlet

Actions

Arabian Pipes Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )

2200
APC
-5.75 %
1446/01/23     29/07/2024 08:01:26

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 343.07318.287.788308.7411.119
Gross Profit (Loss) 85.2570.7720.4695.26-10.508
Operational Profit (Loss) 66.1356.616.83764.212.99
Net profit (Loss) 57.0545.4525.52254.794.124
Total Comprehensive Income 57.0545.4525.52254.794.124
All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 651.82532.9622.301
Gross Profit (Loss) 180.5199.4481.526
Operational Profit (Loss) 130.3570.5284.841
Net profit (Loss) 111.8356.9496.399
Total Comprehensive Income 111.8356.9496.399
Total Shareholders Equity (after Deducting Minority Equity) 344.95158.26117.964
Profit (Loss) per Share 11.185.69
All figures are in (Millions) Saudi Arabia, Riyals


Element ListAmountPercentage of the capital (%)
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 Revenue increased to SAR 343.07 million for the 2nd quarter of financial year 2024 from SAR 318.28 million for the 2nd quarter of financial year 2023 as a result of the increased in sales volume.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Net profit of SAR 57.05 million for Q2 2024 compared to a net profit of SAR 45.45 million for Q2 2023 is due to gross profit increased to SAR 85.25 million in Q2 2024 from SAR 70.77 million in Q2 2023, as a result of the increase in volume mainly due to increase in sales volume, primarily attributed to the efficiency of production and supply during the 2nd quarter. Additionally, the company has continued to improve production costs.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is Revenue increased to SAR 343.07 million for Q2 2024 from SAR 308.74 million for the first quarter of financial year 2024 mainly as a result of the increase in sales volume.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is Net profit of SAR 57.05 million for Q2 2024 compared to a net profit of SAR 54.79 million for first quarter (Q1 2024) Although the gross profit decreased to SAR 85.25 million in Q2 2024 from SAR 95.26 million in first quarter (Q1 2024) due to an increase in cost of revenue, however the net profit was maintained at a higher level, as a result of the increase in volume mainly due to increase in sales volume, primarily attributed to the efficiency of production and supply during the 2nd quarter. Additionally, the company has continued to improve production costs.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is Revenue increased to SAR 651.82 million for the current period of the financial year 2024 from SAR 532.96 million compared with the same period of the financial year 2023, as a result of the increased in sales volume.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is Net profit of SAR 111.83 million for the current period of the financial year 2024 compared to a net profit of SAR 56.94 million for the same period of the financial year 2023 is due to gross profit increased to SAR 180.51 million in the current period of the financial year 2024 from SAR 99.44 million in the same period of the financial year 2023, as a result of the increase in volume mainly due to increase in sales volume, primarily attributed to the efficiency of production and supply during the current period of financial year 2024. Additionally, the company has continued to improve production costs.
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 Some of the comparative figures have been reclassified and adjusted
Additional Information Attached
Attached Documents  

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.

Company Performance

APC
Add To Watchlist
In your Watchlist
Add To Watchlist
Key Parameters
Last Price 131.2
Net Change -8.0 (-5.75%)
Value Traded (Sar) 45,852,654
Volume Traded 344,455
See The Company Profile

LoginPortletPopupv2

Actions

AddtoWatchlistv2

Actions

Add to watchlist