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Aseer Trading, Tourism and Manufacturing Co. announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 403.4389.53.568426.2-5.349
Gross Profit (Loss) 119.2123.5-3.481128.5-7.237
Operational Profit (Loss) 19.613.446.26818.55.945
Net Profit (Loss) after Zakat and Tax -0.8-3.2-75-1.4-42.857
Total Comprehensive Income 73.6-6.4-51.842.084
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 829.6795.74.26
Gross Profit (Loss) 247.7253.7-2.364
Operational Profit (Loss) 38.234.311.37
Net Profit (Loss) after Zakat and Tax -2.2-3.1-29.032
Total Comprehensive Income 125.4-99.5-
Total Share Holders Equity (after Deducting Minority Equity) 1,505.71,302.215.627
Profit (Loss) per Share -0.02-0.02
All figures are in (Millions) Saudi Arabia, Riyals
Accumulated LossesCapitalPercentage %
-65.91,264-5.2
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
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 of decreasing losses is increasing operation profit resulting mainly from the decrease in selling and distribution expenses, decrease in general and administration expenses and recording other operating income verses recording other operating expenses during the same quarter of the previous year in addition to recording foreign currency exchange gain compared to foreign currency exchange loss during the same quarter of the previous year and decrease in finance expenses
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The reason of decreasing losses is due to increasing operation profit resulting mainly from increase in gross profit from investment, decrease in selling and distribution expenses, decrease in general and administration expenses, increasing in other operating income and achieving foreign currency exchange gain compared to foreign currency exchange loss in pervious quarter
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason of decreasing losses is due to increasing operation profit resulting mainly from increase in gross profit from sales, decrease in selling and distribution expenses, decrease in general and administration expenses, recording other operating income verses other operating expenses same period last year, achieving foreign currency exchange gain compared to foreign currency exchange loss same period last year, increase in other income and decrease in finance expenses
Statement of the type of external auditor's report Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion Emphasis of Matter

We draw attention to note 9 accompanying the interim condensed consolidated financial statements. It states that during the period ended 15 December 2019, company raised two legal cases through Riyadh Public Court against the land seller and the broker of north Riyadh land – Al Khair district to return paid amount back. The court decision has been issued in November year 2020 to enforce the land seller to return amount SR 202 million to Aseer company. During the period end by 30 June 2021, The defendant (the land seller) submitted a petition request to the Court of Appeal in Riyadh, to revoke the judgment and return the case after the expiration of the statutory objection period and after the company submitted to the enforcement court to implement the ruling against the defendant, And that the petition request was accepted and considered by the court that issued the judgment and ruled the case land seller requested a memorial to the court and his memorial has been accepted by the court. Based on that the court dismiss the case for lack of specific jurisdiction. Our conclusion is not qualified in this matter

Reclassification of Comparison Items Not applicable
Additional Information The company made an adjustment to the comparative figures for the fiscal year ended 31 December 2020 as a result of the classification of financial instruments from an equity instruments through other comprehensive income to a debt instrument through profit or loss, and there is no impact on the attached financial statements except on the balances in the statement of change in equity as of 1 January 2020 and 30 June 2020. For more details, we draw attention to note 14 (Restatement of previous years) accompanying the interim condensed consolidated financial statements for period ended 30 June 2021.

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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