Takween Advanced Industries Co. announces its Interim Financial Results for the Period Ending on 30-06-2021( Six Months )
Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
---|---|---|---|---|---|
Sales/Revenue | 222,050 | 198,538 | 11.842 | 186,313 | 19.181 |
Gross Profit (Loss) | 12,094 | 20,362 | -40.605 | 11,634 | 3.953 |
Operational Profit (Loss) | -9,571 | -1,461 | 555.099 | -12,660 | -24.399 |
Net Profit (Loss) after Zakat and Tax | 7,872 | 10,032 | -21.531 | 2,157 | 264.951 |
Total Comprehensive Income | 7,996 | 9,031 | -11.46 | 2,178 | 267.125 |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|---|---|---|
Sales/Revenue | 408,363 | 399,177 | 2.301 |
Gross Profit (Loss) | 23,728 | 39,246 | -39.54 |
Operational Profit (Loss) | -22,231 | -7,040 | 215.781 |
Net Profit (Loss) after Zakat and Tax | 10,029 | -8,761 | - |
Total Comprehensive Income | 10,174 | -8,961 | - |
Total Share Holders Equity (after Deducting Minority Equity) | 598,407 | 583,953 | 2.475 |
Profit (Loss) per Share | 0.084 | -0.094 | |
All figures are in (Thousands) Saudi Arabia, Riyals |
Accumulated Losses | Capital | Percentage % | |
---|---|---|---|
-309,678 | 950,000 | 32.59 | |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Explanation |
---|---|
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 the decrease in net profit in the current quarter compared to the net profit for the same quarter of previous year is due to the increase in cost of revenue, the increase in selling and distribution expenses, and the decrease of other income. Despite the decrease in general and administrative expenses, the decrease in financial charges, and increase in sales revenue. |
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 the increase in net profit in the current quarter compared to the net profit for the previous quarter is due to the increase in revenue, the decrease in selling and distribution expenses, and the decrease in financial charges. Despite the increase in general and administrative expenses, the decrease in other income and the decrease in net profit from discontinued operation. |
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 for the increase in the net profit in the current period compared to the net loss in same period of previous year is due to the increase in revenue , the decrease in general and administrative expenses , the decrease in financial charges, and increase in net profit from discontinued operation. despite the increase in selling and distribution expenses , the decrease in other income, and the increase in cost of revenue decrease related to raw materials increasing. |
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 | N\A |
Reclassification of Comparison Items | Certain figures have been reclassified to comply with the current period presentation of the financial statements |
Additional Information | 1-On 30/12/2020 Takween has signed a share purchase agreement with JOFO under which Takween agreed to sell 129,360 shares in one of its subsidiaries, Advanced Fabrics Factory Company (“SAAF”), representing 70% of the share capital of SAAF (the “Transaction”).IFRS 5 was followed for Non-current assets held for sale and discontinued operations to be presented separately in the statement of financial position, So Takween disclosed separately the net profit for the year from discontinued operations in the income statement, and disclosed separately the Assets & Liabilities held for sales in the balance sheet. Note that the transaction completion date was announced on 07/07/2021. 2-The profit per share for the period ended on 30-06-2021 was calculated by dividing the net profit of SAR(7.9 million) on the weighted average number of shares 95 million therefor profit per share is SAR 0.084, and for the same quarter of previous year was calculated by dividing the net loss of SAR(8,76 million) on the weighted average number of shares 95 million therefor loss per share is SAR (-0.09). 3-The accumulated loses as of 30/06/2021 has reached SAR (309,68 million), equal to 32.59% of the company’s capital of SAR 950 million. The accumulated loses as of 31/12/2020 has reached SAR (319,7 million), equal to 33.65% of the company’s capital. Noting that the company is applying the procedures and instructions issued by the capital market authority of the listed companies in the Saudi Stock Exchange, which has accumulated losses of 20% or more of its 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.