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Knowledge Economic City announces its Annual Financial Results for the Year Ended on 2019-12-31

Element ListCurrent YearPrevious Year%Change
Sales/Revenue 161,64171,121127.276
Gross Profit (Loss) 46,16813,263248.096
Operational Profit (Loss) 4,944-36,533-
Net Profit (Loss) after Zakat and Tax 18,145-39,332-
Total Comprehensive Income 18,598-39,674-
Total Share Holders Equity (after Deducting Minority Equity) 3,123,2773,104,6710.599
Profit (Loss) per Share 0.054-0.101
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListExplanation
Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to The increase in the net profit of the Company during the current year compared to the previous year is due to higher revenue from operations relating to residential units and land sale and re-measurement to fair value of pre-existing interest in a joint venture that resulted from acquiring the remaining shares in the joint venture.
Basis of the External Auditor's Opinion Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None
Reclassification of Comparison Items None
Additional Information The Company has adopted International Standards No. (16). The impact of the adoption of this standard is disclosed in Note 2 of the consolidated financial statements.

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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