Fitaihi Holding Group announces its Consolidated Interim Financial Results for the Period Ending on 31-03-2020 (Three Months)
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| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
|---|---|---|---|---|---|
| Sales/Revenue | 20,183,537 | 35,754,876 | -43.55 | 2,316,938 | 771.129 |
| Gross Profit (Loss) | 10,664,100 | 19,762,789 | -46.039 | -11,025,508 | – |
| Operational Profit (Loss) | -1,074,236 | 7,000,777 | – | -24,246,115 | -95.569 |
| Net Profit (Loss) after Zakat and Tax | -2,414,513 | 5,557,924 | – | -24,733,603 | -90.237 |
| Total Comprehensive Income | -21,861,157 | 13,847,511 | – | -20,518,733 | 6.542 |
| All figures are in (Actual) Saudi Arabia, Riyals |
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 585,676,186 | 646,317,097 | -9.382 |
| Profit (Loss) per Share | -0.04 | 0.1 | |
| All figures are in (Actual) Saudi Arabia, Riyals |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The reason for achieving a net loss during the first quarter of the year 2020, compared to net profit during the first quarter of the year 2019, is mainly due to the following: 1- Decrease in sales during the first quarter of the year 2020, compared to the first quarter of the year 2019 by 34.4%. 2- The Company’s share of the business results of associated companies decreased in the first quarter of the year 2020, compared to the first quarter of the year 2019 by 73.9%. Among the positive aspects, during the first quarter of the year 2020, compared to the first quarter of the year 2019, are the following: A- The decrease in total sales and administrative expenses, by 8%. B- The improvement in sales profit margin, during the first quarter of the year 2020, that reached 47.1%, compared to 41.8% during the first quarter of the year 2019.The figures of the first quarter of the year 2020 and 2019, have been reclassified, where the item of the (Company’s share from the Business Results of Associate Companies and Net Investment Income) has been added to the (Income) item, and accordingly it was added to the gross profit during the presented financial periods. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The reason for the decrease in the net loss for the first quarter of the year 2020, compared to the net loss for the fourth quarter of the year 2019 (the previous quarter) is due to the following: 1- No impairment losses recorded in the value of the investment in an associate during the first quarter of 2020, compared to achieving a decline in the value of the investment in an associate, amounted to 24.8 million SAR, in the fourth quarter of the year 2019 (the previous quarter). 2- The Company’s share of the business results of associate Companies increased, during the first quarter of the year 2020, compared to the fourth quarter of 2019 (the previous quarter), by 37.6%. 3- The decrease in total sales and administrative expenses, during the first quarter of the year 2020, compared to the fourth quarter of the year 2019 (the previous quarter), by 11.2%. This is despite the decline in sales during the first quarter of the year 2020, compared to the fourth quarter of the year 2019 (the previous quarter) by 29.6%, and the increase in Zakat expense, during the first quarter of the year 2020, compared to the fourth quarter of the year 2019 (the previous quarter), by 78.1%. |
| Basis of the External Auditor’s Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain prior period figures have been reclassified to conform with the presentation of the current period. |
