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Saudi Company for Hardware announces its Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 332.14351.61-5.537389.53-14.733
Gross Profit (Loss) 65.9567.13-1.75780.63-18.206
Operational Profit (Loss) 28.8126.458.92246.59-38.162
Net Profit (Loss) after Zakat and Tax 16.4814.6412.56833.14-50.271
Total Comprehensive Income 16.4814.6412.56833.06-50.151
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 1,079.711,065.681.316
Gross Profit (Loss) 205.51195.824.948
Operational Profit (Loss) 100.8689.1913.084
Net Profit (Loss) after Zakat and Tax 61.3455.5810.363
Total Comprehensive Income 62.3355.5812.144
Total Share Holders Equity (after Deducting Minority Equity) 585.2540.878.196
Profit (Loss) per Share 1.71.54
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to The increase in net profit for current quarter compared with same quarter of the previous year was due to;

- Improvement in gross profit margin

- Decrease in the G&A Expenses

- Decrease in the S&M expenses

- Increase in Other Income

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The decrease in net profit for the current quarter compared to the previous quarter was due to the following;

- Decrease in sales due to the implementation of new VAT decree effective from the beginning of Q3/2020.

- Increase in the S&M expenses

Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to The increase in net profit for current period compared to the similar period of the previous year was mainly due on the increase in sales and the improvement in gross profit margin, in addition to the decrease in the S&M expenses.
Basis of the External Auditor's Opinion Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None
Reclassification of Comparison Items Comparative period figures have been reclassified to conform with current period classification numbers.
Additional Information The initiatives provided by the government to minimize the impact of the coronavirus outbreak “Covid-19” and in particular the initiative related to SANED, resulted in a decrease in some operating expenses during the second quarter of this year.

The Capital Market Authority and the Saudi Stock 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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