| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
|---|---|---|---|---|---|
| Sales/Revenue | 15,147,496 | 17,124,335 | -11.544 | 21,570,430 | -29.776 |
| Gross Profit (Loss) | 3,243,923 | 5,288,081 | -38.655 | 6,100,849 | -46.828 |
| Operational Profit (Loss) | -2,770,442 | -447,452 | 519.159 | 499,574 | – |
| Net Profit (Loss) after Zakat and Tax | -2,587,757 | -665,729 | 288.71 | 269,990 | – |
| Total Comprehensive Income | -2,551,905 | -564,497 | 352.067 | -142,699 | 1,688.313 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
|---|---|---|---|
| Sales/Revenue | 36,717,925 | 39,190,799 | -6.309 |
| Gross Profit (Loss) | 9,344,771 | 13,541,277 | -30.99 |
| Operational Profit (Loss) | -2,270,869 | 1,274,514 | – |
| Net Profit (Loss) after Zakat and Tax | -2,786,345 | 650,553 | – |
| Total Comprehensive Income | -2,694,604 | 600,991 | – |
| Total Share Holders Equity (after Deducting Minority Equity) | 59,650,342 | 77,105,099 | -22.637 |
| Profit (Loss) per Share | -0.36 | 0.08 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| ACCUMULATED LOSSES | CAPITAL | PERCENTAGE % | |
|---|---|---|---|
| 17,029,876 | 77,170,350 | 22.07 | |
| All figures are in (Actual) 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 increase in net losses in the current quarter compared to the corresponding quarter of the previous year is attributed to the decrease in sales by 11.54 %, and to the increase in cost of sales and the increase in the General and Administrative expenses, despite the decrease in sales and marketing 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 for the net losses incurred in the current quarter compared to the net income in previous quarter is attributed to the decrease in sales by 29.78 %, and to the increase in the cost of sales and the increase in General and Administrative expenses, despite the decrease in sales and marketing expenses |
| 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 net losses incurred in the current period compared to net profit in the corresponding period of the previous year is attributed to the decrease in sales by 6.31 %, and to the increase in the cost of sales and the increase in General and Administrative expenses, and to the impairment of property plant and equipment (which was reclassified from Other Comprehensive Income from the first quarter 2021), despite the decrease in sales and marketing expenses, the decrease in the provision for expected credit losses and despite the increase in other revenue. |
| 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 | We draw attention to note (2-e) to the condensed interim financial statements, which indicate that accumulated losses as of June 30, 2021 reached SR 17, 029,876. In addition, the Company’s current liabilities exceeded its current assets by SR 19,104,721. These conditions or events indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of these matters. |
| Reclassification of Comparison Items | The comparative figures for the previous period have been reclassified to comply with the figures of the current period.The impairment of property, plant and equipment amounting to SR 468,578, which was previously classified within other comprehensive income for the period ended 31 March 2021, has been reclassified to the income statement for the period ended 30 June 2021 |
| Additional Information | The Company’s accumulated losses on June 30, 2021 reached SR 17, 029,876 which approximate 22.07 % of its Capital. The main reasons for these accumulated losses are the operational losses, the provisions for expected credit losses, slow moving inventory provision, and the impairment of property plant and equipment and Zakat differences.The Company will comply with the instructions and guidelines that are set for listed companies when their accumulated losses reach or exceed 20 % of their capital.
Loss per shares The weighted average number of shares for the two periods ended 30 June 2021 and 30 June 2020 was calculated by taking the effect of the capital decrease from the beginning of the nearest offered period to comply with the requirements of IAS 33 In response to the spread of the Covid-19 virus around the world and the resulting disruption to social and economic activities in those markets, the company’s management has proactively assessed its impact on its operations and has taken a series of preventive actions, including the formation of teams and ongoing crisis management operations to ensure the health and safety of its employees , customers and society as a broader scope, as well as ensuring the continuity of supplying its products in all its markets. Based on these factors, the company’s management believes that the Covid-19 epidemic did not have a material impact on the company’s financial results that were reported for the period ending on 30 June 2021. In view of the continuation of the pandemic, the company is closely monitoring the situation, especially in the coming months of this year, and the company expects the situation to improve gradually and hopes that the outbreak of Covid-19 will end during the current year. |