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Saudi Advanced Industries Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 6.045.4810.21810.54-42.694
Total Profit (Loss) 6.045.4810.21810.54-42.694
Profit (Loss) Operational 4.534.354.1377.57-40.158
Net Profit (Loss) after Zakat and Tax 4.134.16-0.7215.96-30.704
Total Comprehensive Income 43.3453.08-18.349-25.41-
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after deducting minority equity) 824.97812.661.514
Profit (Loss) per Share 0.080.08
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The decrease in net profit for current quarter compared to the same quarter of the previous year is due to:

- Increase in Financial costs and Zakat expenses and Increase in General and administrative expenses and decrease in other income, although there is increase in revenues due to increase in company shares from subsidiaries profits, although decrease in dividends distribution during current quarter compared to the same quarter of the previous year.

Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The decrease in net profit for current quarter compared to the previous quarter is due to:

-Decrease in income due to decrease in company shares from subsidiaries profits and decrease in dividends distribution and Increase in Financial costs and other expenses, although there is decrease in General and administrative expenses and decrease in Zakat expenses during current quarter Compared to the previous quarter taking into account that Q4 2018 (previous quarter) report has not issued. However, a 2018 financial year-end report used to calculate by subtracting from Q4 2018 (previous quarter).

Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Reclassifying and presenting profits from sales of financial assets at fair value with compared period for the amount SAR 947 thousand on revenue and other expenses to comprehensive Income Statement to be in alignment with the classification and presentation with current period. This affected by decreasing net profit for compared period with same amount and increased in comprehensive income with same amount.
Additional Information Total comprehensive income for the current quarter reached SR 43.34 million compared to 53.08 million for the same quarter of the previous year with a decrease of 18.34% due to decrease in valuation of the fair value reserve for the financial assets for the current quarter compared to the same quarter of the previous year, versus losses reached (25.41) million for the previous quarter Due to increase in valuation of the fair value reserve for financial assets for the current quarter compared to the previous quarter.

Total shareholders ' equity (no minority interest) as at the end of current quarter amount 824.97 million compared to amount 812.66 million at the end of the same quarter of the previous year, with an increase of 1.51%.

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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