| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | Decrease in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to :1- The decline in revenues as a result of the suspension of ready-mix concrete activity due to the stoppages that came as a result of the precautionary measures taken by the government of the Kingdom of Saudi Arabia during the Corona pandemic.2- The high operating costs incurred by the company as a result of the precautionary measures taken by the company during the Corona pandemic.3- Due to the increase in cement prices, sales increased relatively, but they decreased as sales quantities due to the stoppages that came as a result of the precautionary measures taken by the government of the Kingdom of Saudi Arabia. Therefore, the relative decrease shown by the lists in the sales volume does not reflect the real decrease in sales quantities and as a result there is an increase In direct costs as a result of the firm’s inability to reach the required break-even point to match fixed costs. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | Decrease in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to :1- The decline in revenues as a result of the suspension of ready-mix concrete activity due to the stoppages that came as a result of the precautionary measures taken by the government of the Kingdom of Saudi Arabia during the Corona pandemic.2- The high operating costs incurred by the company as a result of the precautionary measures taken by the company during the Corona pandemic.3- Due to the increase in cement prices, sales increased relatively, but they decreased as sales quantities due to the stoppages that came as a result of the precautionary measures taken by the government of the Kingdom of Saudi Arabia. Therefore, the relative decrease shown by the lists in the sales volume does not reflect the real decrease in sales quantities and as a result there is an increase In direct costs as a result of the firm’s inability to reach the required break-even point to match fixed costs. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The reason for the decrease in net profit during the current period compared with the corresponding period of the previous year is due to:1- The decline in revenues as a result of the suspension of ready-mix concrete activity due to the stoppages that came as a result of the precautionary measures taken by the government of the Kingdom of Saudi Arabia during the Corona pandemic.2- The high operating costs incurred by the company as a result of the precautionary measures taken by the company during the Corona pandemic.3- Due to the increase in cement prices, sales increased relatively, but they decreased as sales quantities due to the stoppages that came as a result of the precautionary measures taken by the government of the Kingdom of Saudi Arabia. Therefore, the relative decrease shown by the lists in the sales volume does not reflect the real decrease in sales quantities and as a result there is an increase In direct costs as a result of the firm’s inability to reach the required break-even point to match fixed costs. |
| Basis of the External Auditor’s Opinion | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | There’s no |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to tally with the current presentation. |
| Additional Information | The earnings per share for the current period was calculated from the net profit for the period and earnings per share from main operations for the period ending on June 30, 2020, based on the number of shares outstanding during the end of the period, which amounted to 4,520,880 ordinary shares.Earnings per share for the same period of the previous year was also calculated from the net profit for the period and earnings per share from main operations for the period ending on June 30, 2019 on the basis of the weighted average number of shares during the period amounting to 4,054,638 shares as according to the extraordinary general assembly held on April 23. 2019 AD The 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 Assembly, and the earnings per share for the current period and the comparison period were adjusted accordingly to reflect the effect of the increase in the capital. |
