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Saudi Arabia Refineries 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 10,924,62191,03611,900.33-388,914-
Gross Profit (Loss) 10,924,62191,03611,900.33-388,914-
Operational Profit (Loss) 10,227,689-492,045--1,020,600-
Net Profit (Loss) after Zakat and Tax 10,227,689-492,045--1,270,600-
Total Comprehensive Income 15,712,25699,749,687-84.24824,987,320-37.119
All figures are in (Actual) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 10,535,707152,1686,823.733
Gross Profit (Loss) 10,535,707152,1686,823.733
Operational Profit (Loss) 9,207,089-1,468,097-
Net Profit (Loss) after Zakat and Tax 8,957,089-1,718,097-
Total Comprehensive Income 40,699,576151,496,516-73.134
Total Share Holders Equity (after Deducting Minority Equity) 459,975,646517,405,806-11.099
Profit (Loss) per Share 0.6-0.11
All figures are in (Actual) 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 profit during the current quarter is due to dividend distributions for the first half of 2019 from the Saudi Industrial Investment Company (an investor company) for SR 11,395,860
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason for profit during the current quarter is due to dividend distributions for the first half of 2019 from the Saudi Industrial Investment Company (an investor company) for SR 11,395,860
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to The increase in net profit during the period compared to the corresponding period of the previous year is due to the company receiving the dividends of the first half of 2019 from the Saudi Industrial Investment Company (an investor company) for SR 11,395,860
Basis of the External Auditor's Opinion Qualified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion As shown in Note 6 to the condensed interim financial statements, investments in associates include an investment in Arab Slavonic Limited Company, which recorded a provision for impairment of the entire investment value. The accumulated losses of the investee company exceeded the book value of the investment and we were unable to obtain Enclosed with the appropriate audit evidence regarding the Liquidator's Liquidation Report of the Arab Salophone Limited Company (an associate) clarifies the financial position of the liquidation of the associate as at 30 June 2019 and we have not been able to verify the potential liabilities that may arise from the non- The company's bank guarantee for the associate amounting to SR 5,09 million as shown in Note (10) and therefore we could not determine what may entail significant adjustments and the effects of the interim financial statements of the company shortcut.
Additional Information The provision for zakat is not recognized this quarter and the entire provision will be recognized at the end of the year

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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