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Aldrees Petroleum and Transport Services Co. (ALDREES) 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 1,326.51,290.32.8051,299.82.054
Total Profit (Loss) 63.962.91.58967.6-5.473
Profit (Loss) Operational 3336.2-8.83936.7-10.081
Net Profit (Loss) after Zakat and Tax 17.315.114.56929.9-42.14
Total Comprehensive Income 17.315.114.56929.9-42.14
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 2,626.32,575.51.972
Total Profit (Loss) 131.5132-0.378
Profit (Loss) Operational 69.676.6-9.138
Net Profit (Loss) after Zakat and Tax 47.237.226.881
Total Comprehensive Income 47.237.226.881
Total Share Holders Equity (after deducting minority equity) 653.6622.74.962
Profit (Loss) per Share 0.790.62
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The reason of increase in the current quarter compared with same quarter last year due to the increase of Transport and Petrol Divisions sales and the increase of other income; and the decrease of financial expense, although there is increase of sales, marketing, General & Administrative and Zakat expenses.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The reason of decrease in the current quarter compared with previous quarter due to the decrease of Transport Divisions sales, and increase in expenses of sales and marketing, and decrease of other income, although there is increase in sales of Petrol Division and decrease in expense of General & Administrative, Financial and Zakat expenses.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year The reason of increase in the current period compared with previous period of last year due to the increase of Transport and Petrol Divisions sales, and other income increase and the decrease in sales ,marketing and financial expenses , although there is increase in expense of General and Administrative and Zakat expenses.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Certain of the prior period amounts 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 14/04/2019

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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