News

Saudi Industrial Investment Group announces its Interim Financial Results for the Period Ending on 31-03-2021(Three Months)

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue2,1281,57335.2821,64429.44
Gross Profit (Loss)683247176.51849737.424
Operational Profit (Loss)698-7344756.152
Net Profit (Loss) after Zakat and Tax305-17423529.787
Total Comprehensive Income305-17421144.549
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Total Share Holders Equity (after Deducting Minority Equity)6,7176,6201.465
Profit (Loss) per Share0.68-0.39
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year isThe reasons for the increase in net income during the current quarter compared to the same quarter of the previous year are due to:1. SIIG’s jointly managed projects have made a profit of SR 161 Million in the current quarter, compared to a loss of SR (189) Million for the same quarter of the previous year, due to an increase in products prices.2. SIIG’s share of profit of the National Petrochemical Company (Petrochem) has increased in the current quarter to be SR 156 Million in the current quarter compared to a profit of SR 24 Million for the same quarter of the previous year.3. A decrease in the General and administrative expenses.4. A decrease in the net finance costs.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is-The reasons for the increase in the net income during the current quarter compared with the previous quarter are due to:1. SIIG’s share of result of jointly managed projects has increased in the current quarter to be SR 161 Million, compared to SR 91 Million in the previous quarter, due to an increase in products prices.2. SIIG’s share of result of the National Petrochemical Company (Petrochem) has increased in the current quarter to be SR 156 Million, compared to SR 124 Million for the previous quarter, due to an increase in products prices.
Statement of the type of external auditor’s reportUnmodified conclusion
Reclassification of Comparison ItemsCertain prior period figures have been re-classified to confirm with the presentation in the current period.