Saudi Fisheries Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
November 03, 2021 at 02:42 am EDT
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A6050 SFICO0.0 (0.0 %) 1443/03/28 Wed Nov 3, 2021 09:21:13
Saudi Fisheries Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
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Element List
Current Quarter
Similar quarter for previous year
%Change
Previous Quarter
% Change
Sales/Revenue
11,971
9,637
24.219
9,798
22.177
Gross Profit (Loss)
3,405
5,036
-32.386
5,499
-38.079
Operational Profit (Loss)
-17,794
-6,043
194.456
-8,315
113.998
Net Profit (Loss) after Zakat and Tax
-18,464
-6,166
199.448
-9,634
91.654
Total Comprehensive Income
-18,464
-6,166
199.448
-9,634
91.654
All figures are in (Thousands) Saudi Arabia, Riyals
Element List
Current Period
Similar period for previous year
%Change
Sales/Revenue
33,783
30,096
12.25
Gross Profit (Loss)
15,187
12,710
19.488
Operational Profit (Loss)
-35,285
-22,394
57.564
Net Profit (Loss) after Zakat and Tax
-37,848
-26,108
44.967
Total Comprehensive Income
-37,848
-26,108
44.967
Total Share Holders Equity (after Deducting Minority Equity)
267,173
320,106
-16.536
Profit (Loss) per Share
-0.95
-0.15
All figures are in (Thousands) Saudi Arabia, Riyals
Accumulated Losses
Capital
Percentage %
-132,665
400,000
-33.17
All figures are in (Thousands) Saudi Arabia, Riyals
Element List
Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is
The reason for the increase in net loss for the current quarter compared to the net loss for the same quarter of the previous year In spite of increased sales by 24 % is mainly due to the impairment of Hurdiah Farm increase in selling and marketing expenses, General & administration ,marketing campaign expenses, as well as increase in operating expenses especially in vessels , Farm
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 reason for the increase in net loss for the current quarter compared to the net loss for previous quarter In spite of increased sales by 22.18% is mainly due to the impairment of Hurdiah Farm and the impact of inventory adjustment
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is
The reason for the increase in net loss for the current quarter compared to the net loss for the same quarter of the previous year In spite of increased sales by 12% is mainly due to the impairment of Hurdiah Farm . This improvement contributed to containing the increase in farm expenses as a result of starting the aquaculture operations in Al Al-Hurairah at the end of year 2020, as well as containing the increase in selling and marketing expenses caused by the increase in bad debt provision and marketing campaign expenses, and the increase in Zakat and other operating expenses.
Statement of the type of external auditor's report
Unmodified conclusion
Reclassification of Comparison Items
N/A
Additional Information
Total accumulated losses as of June 30th, 2021, amounted to 132,664,556 riyals, equivalent to 33.17% of the capital, of which 94,816,712 riyals pertain to previous years, and 37,847,844 riyals representing the current year's losses
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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Saudi Fisheries Co. SJSC published this content on 03 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2021 06:41:05 UTC.
Saudi Fisheries Co SJSC (Alasmak) is a Saudi Arabia-based joint stock company engaged in fishing and exploiting marine resources in the Saudi and international waters; processing and marketing the products inside and outside Kingdom of Saudi Arabia; offering sea food; shrimp farming; the import and export of fish and shrimp feedstock, as well as manufacture of cleaning and packaging materials. The Companyâs products fall into three types: Frozen, Meal and Fresh. The Company operates through its own fleet of fishing vessels, seafood processing plants, and a network of retail shops. The Company has approximately four processing plants located in Dammam, Jazan, Jeddah and Riyadh. The Company has warehouses in separate regions in the Kingdom with a production capacity of approximately 8000 tons annually.