Al Kathiri Holding Co. announces its interim Financial results for the period ending on 2019-06-30 ( Six Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue17,901,53912,748,18440.42426,097,079-31.404
Total Profit (Loss)5,616,3203,923,61243.1417,797,020-27.968
Profit (Loss) Operational3,135,2222,198,44342.6114,539,546-30.935
Net Profit (Loss) after Zakat and Tax3,009,4852,266,83232.7614,571,463-34.168
Total Comprehensive Income3,009,4852,266,83232.7614,571,463-34.168
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue43,998,61826,544,61665.753
Total Profit (Loss)13,413,3407,999,36867.679
Profit (Loss) Operational8,520,1344,441,71591.82
Net Profit (Loss) after Zakat and Tax7,580,9484,535,07167.162
Total Comprehensive Income7,580,9484,535,07167.162
Total Share Holders Equity (after deducting minority equity)62,761,88350,411,75824.498
Profit (Loss) per Share1.871.44
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous yearReason for increase in net profit for current quarter compared to the same quarter of the previous year was due to the profit from the company’s contract with the Air Force.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarterReason for decrease in net profit for the current quarter compared to the previous quarter is due to the decline in sales during the holy month of Ramadan and eid al-Fitr holiday.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous yearReason for increase in net profit for current period compared to the similar period of the previous year was due to Profit from the company’s contract with the Air Force.
Type of the external auditor’s opinionUnmodified opinion
External auditor’s report containing reservationThere’s no.
Reclassifications in quarter financial resultSome of the same period comparative figures were reclassified to comply with the current period comparative figures.
Additional Information1 – Revenues during the current quarter amounted to SR 17,901,539 compared to SR 12,748,184 for the same quarter for the previous year, an increase of 40.42%.2. Gross profit for the quarter reached SR 5,616,320 compared to SAR 3,923,612 for the same quarter for the previous year, an increase of 43.14%.3. Operating profit during the current quarter reached SR 3,135,222 compared to SR 2,198,443 for the same quarter for the previous year, an increase of 42.61%.4 – Net profit for the current quarter amounted to SR 3,009,485, compared to SAR 2,266,832 for the same quarter for the previous year, an increase of 32.76% compared to RO 4.571.463 for the previous quarter, a decrease of 34.17%.5. Total comprehensive income during the current quarter amounted to SR 3,009,485, compared to SAR2,266,832 for the same quarter last year, an increase of 32.76% compared to RO 4.571.463 for the previous quarter, a decrease of 34.17%.6. Sales / revenues during the current period amounted to SR 43,998,618 compared to SR 26,544,616 for the corresponding period of the previous year, an increase of 65.75%.7. Gross profit during the current period amounted to SR 13,413,340 compared to SAR 7,999,368 for the same period of the previous year, an increase of 67.68%.8. Operating profit during the current period amounted to SR 8,520,134 compared to SAR 4,441,715 for the same period of the previous year, an increase of 91.82%.9 – Net profit during the current period amounted to SR 7,580,948 compared to SR 4,535,071 for the same period of the previous, an increase of 67.16%.10. Total comprehensive income during the current period amounted to SR 7,580,948 compared to SR 4,535,071 for the same period of the previous year, an increase of 67.16%.11 – Earnings per share during the current period amounted to SR 1.87, compared to SAR 1.44 for the corresponding period of the previous year, an increase of 29.86%.12. Earnings per share for the current period of the net profit for the period and earnings per share from the main operations for the period ended 30 June 2019 were calculated on the basis of the weighted average number of shares during the period of 4,054,638 shares. In accordance with the Extraordinary General Assembly held on April 23, 2019 Shareholders decided to increase the capital to 4,520,880 shares by issuing a bonus to the shareholders on the date of the Extraordinary General Meeting. The earnings per share for the current period and the comparative period were adjusted accordingly to reflect the effect of the increase in capital. Earnings per share for the corresponding period of the previous year and earnings per share from the major operations for the period ended 30 June 2018 which amounted to 3,139,500 ordinary shares.13. Total shareholders’ equity (excluding minority interests) during the current period amounted to SR 62,761,883 compared to SR 50,411,758 for the same period last year, an increase of 24.50%.