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Takween Advanced Industries 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/Revenue 319,149374,910-14.873303,4705.166
Total Profit (Loss) 30,74247,445-35.20432,980-6.785
Profit (Loss) Operational -2,83013,391--432555.092
Net Profit (Loss) after Zakat and Tax -13,0322,892--12,5483.857
Total Comprehensive Income -11,6282,320--11,4171.848
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 622,619682,241-8.739
Total Profit (Loss) 63,72273,851-13.715
Profit (Loss) Operational -3,26212,807-
Net Profit (Loss) after Zakat and Tax -25,5802,056-
Total Comprehensive Income -23,0451,704-
Total Share Holders Equity (after deducting minority equity) 660,483683,528-3.371
Profit (Loss) per Share -0.270.02
All figures are in (Thousands) Saudi Arabia, Riyals
Accumulated LossesCapitalPercentage %
-242,557950,00025.53
Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The reason for the net loss in the current quarter compared to the net profit in same quarter of previous year is due to the decrease in sales revenue, and the increase in general and administrative expenses, and the financial charges; despite the decrease in cost of revenue, and the selling and distribution expenses. Noting that in quarter 1 2018, the company has decreased the provision of Zakat after receiving the final Zakat assessment from the General Authority of Zakat and Tax.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The reason for the increase in the net loss in the current quarter compared to the net loss of the previous quarter is due to the increase in cost of sales, the administrative expenses, and financial charges; despite the increase in the other incomes.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The reason for the net loss in the current period compared to the net profit in same period of previous year is due to the decrease in sales revenue, and the increase in general and administrative expenses, and the financial charges; despite the decrease in cost of revenue, the selling and distribution expenses, and the increase in other income. Noting that in quarter 1 2018, the company has decreased the provision of Zakat after receiving the final Zakat assessment from the General Authority of Zakat and Tax.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Certain figures have been reclassified to comply with the current period presentation of the financial statements.
Additional Information The company has adopted IFRS 16 as of January 1,2019, in which no major impact has recorded from this adoption.

The profit per share for this quarter ended 31 June, 2019 was calculated by dividing the net loss of SAR 13 million on the weight average number of shares 95 million, and for the same quarter from the last year by dividing the net loss SAR 2.8 million on the weight average number of shares 95 million.

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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