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Aldrees Petroleum and Transport Services Co. (ALDREES) announces its Interim Financial Results for the Period Ending on 2019-09-30 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 1,472.71,288.514.2951,326.511.021
Gross Profit (Loss) 6660.68.9163.93.286
Operational Profit (Loss) 34.636.6-5.464334.848
Net Profit (Loss) after Zakat and Tax 16.6163.7517.3-4.046
Total Comprehensive Income 16.6163.7517.3-4.046
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 4,0993,8646.081
Gross Profit (Loss) 197.5192.72.49
Operational Profit (Loss) 104.2113.2-7.95
Net Profit (Loss) after Zakat and Tax 63.753.219.736
Total Comprehensive Income 63.753.219.736
Total Share Holders Equity (after Deducting Minority Equity) 670.1638.74.916
Profit (Loss) per Share 1.060.89
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to The reason of increase in the current quarter compared with same quarter last year due to the increase of Petrol and Transport Divisions sales and the increase of other income; and the decrease of sales and marketing and financial expenses, although there is increase of General & Administrative and Zakat expenses.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason of decrease in the current quarter compared with previous quarter due to the increase of General & Administrative, Financial and Zakat expenses, and the decrease of other income, and the decrease of Transport Division sales, although there is increase in sales of Petrol Division and decrease in expense of sales and marketing.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to The reason of increase in the current period compared with previous period of last year due to the increase of Petrol and Transport Divisions sales, and other income increase and the decrease in sales and marketing and financial expenses , although there is increase in expense of General and Administrative and Zakat expenses.
Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items Certain of the prior period amount have been reclassified to conform with the presentation in the current period.
Additional Information Due to the implementation of the requirements of International Financial Reporting Standard (Art. 16/Renting contracts), resulting in the adjustment of gross and net profits and operation income for the same quarter and the same period and equity and shareholders.

The Share Profit was adjusted in accordance with the increase of the Company Capital from 50 Million shares to 60 Million shares after the approval of the Extraordinary Assembly meeting held on March 18, 2019.

Fuel prices were adjusted on 14/07/2019

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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