Saudi Arabian Fertilizer Co. (SAFCO) announces its annual financial results ending on 31-12-2019
|ELEMENT||CURRENT YEAR||PREVIOUS YEAR||% CHANGE|
|Gross Profit (Loss)||1,694.03||2,131.25||-20.514|
|Operational Profit (Loss)||1,328.27||1,696.2||-21.691|
|Net Profit (Loss) after Zakat and Tax||1,473.92||1,738.44||-15.215|
|Total Comprehensive Income||1,340.24||1,878.76||-28.663|
|Total Share Holders Equity (after Deducting Minority Equity)||7,996.29||7,906.05||1.141|
|Profit (Loss) per Share||3.54||4.17|
|All figures are in (Millions) Saudi Arabia, Riyals|
|Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to||The reasons of the decrease in net profit for current year compared to last year:
• Decrease in quantities sold and average selling prices of the company's products.
On the other hand, the decreases been limited by:
• Zakat provision has been reduced for current year as the Company received revised Zakat assessments up to year 2017.
|Basis of the External Auditor's Opinion||Unmodified opinion|
|Reclassification of Comparison Items||N/A|
|Additional Information||Starting from January, 1 st 2019, the company adopted and implemented IFRS (16) “Leases”
with no major impact on the company financial statements.