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The National Company for Glass Industries 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 13.624.6-44.71520.4-33.333
Gross Profit (Loss) -2.76.9-2.2-
Operational Profit (Loss) -6.13.2--1.3369.23
Net Profit (Loss) after Zakat and Tax -6.68.7--1.4371.428
Total Comprehensive Income -6.68.7--1.4371.428
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 59.978.4-23.596
Gross Profit (Loss) 625-76
Operational Profit (Loss) -4.621.9-
Net Profit (Loss) after Zakat and Tax -3.331.6-
Total Comprehensive Income -3.331.6-
Total Share Holders Equity (after Deducting Minority Equity) 621.1650.4-4.504
Profit (Loss) per Share -0.10.96
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 for net loss is due to:

(1) Operating Loss for glass containers due to lower Sales.

(2) Decrease in the Associated company Profit share operating in Float glass due to lower Sales.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason for net loss is due to:

(1) Operating loss for glass containers due to lower Sales

(2) Decrease in the Associated company Profit share operating in Float glass due to lower Sales.

Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to The reason for net loss is due to:

(1) Operating loss for glass containers due to lower Sales.

(2) Decrease in the Associated company Profit share operating in Float glass due to lower Sales and emergency maintenance works carried out during the second quarter of 2019.

Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items Some comparative period figures have been reclassified as per IFRS to conform to the presentation of current data as per IFRS.
Additional Information The company has adopted IFRS 16 – Leases effective from 1st of January 2019 and have no material impact on the financial results.

Sales for the current quarter amounted to SR 13.6 million compared to SR 24.6 million for the same quarter last year, a decrease of 44.71%.

Sales for the current period amounted to SR 59.9 million compared to SR 78.4 million for the same period last year, a decrease of 23.6%.

The comprehensive loss for the current quarter reached SAR 6.6 million compared to comprehensive income of SR 8.7 million for the same quarter last year.

The comprehensive loss for the current quarter reached SAR 6.6 million compared to comprehensive loss of SAR 1.4 Million for the previous quarter.

The comprehensive loss for the period reached SR 3.3 million compared to comprehensive Income of SR 31.6 Million for the previous period of last year.

The shareholders' equity (not minority rights) during the current period amounted to SR 621.1 million compared to SR 650.4 million for the same period last year, a decrease of 4.50%.

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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