A2220 MAADANIYAH-0.7 (-2.0 %)
1443/03/28 Wed Nov 3, 2021 15:57:44
National Metal Manufacturing and Casting 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 52.19 41.33 26.276 48.07 8.57
Gross Profit (Loss) 3.57 3.81 -6.299 5.12 -30.273
Operational Profit (Loss) -4.32 -3.81 13.385 -5.55 -22.162
Net Profit (Loss) after Zakat and Tax -6.23 -5.86 6.313 -7.38 -15.582
Total Comprehensive Income -6.23 -5.86 6.313 -7.38 -15.582
All figures are in (Millions) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Sales/Revenue 165.51 158.7 4.291
Gross Profit (Loss) 12.12 9.51 27.444
Operational Profit (Loss) -15.15 -15.09 0.397
Net Profit (Loss) after Zakat and Tax -20.7 -21.03 -1.569
Total Comprehensive Income -20.7 -21.03 -1.569
Total Share Holders Equity (after Deducting Minority Equity) 247.43 287.48 -13.931
Profit (Loss) per Share -0.74 -0.75
All figures are in (Millions) Saudi Arabia, Riyals
Accumulated Losses Capital Percentage %
60.86 281.12 21.65
All figures are in (Millions) 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 reasons for the increase in losses during the current quarter compare the same quarter last year in spite of improvement in sales are increase in production cost, increase in selling and distributing and increase in impairment of trade receivables.
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 decrease in losses during the current quarter compare to last quarter are improvement in sales ,decrease in general and administrative expenses and decrease in impairment of trade receivables.
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 reasons for the decrease in losses during the current period compare the same period last year are improvement in sales, decrease in general and administrative expenses, increase in other income, decrease in financial charges and decrease in the provision for Zakat.
Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items Certain figures for the comparative period have been reclassified to conform the presentation in the current period.
Additional Information The total accumulated losses is reached SAR 60.86 million, which equal to 21.65% of the paid capital of SAR 281.12 million . The main reasons for the accumulated losses are as follows:

1- Due to the recording impairment losses and write-off goodwill of total amount of SAR 61.9 million during previous years.

2- Recording provisions for doubtful debts and old and slow-moving inventories during current and previous years, with a current balance of SAR 26.2 million.

3- Decrease in sales and profit margins in recent years, mainly in 2020, due to the impact of the emerging Corona Virus (Covid-19) pandemic and the imposed measures to limit its spread.

The accumulated losses reached 21.65% of capital of the company on 9-30-2021 . the company is applying the procedures and instructions issued by the capital market authority of the listed companies in the Saudi Stock Exchange, which has accumulated losses of 20% or more of its capital.

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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Maadaniyah - National Metal Manufacturing and Casting 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 17:14:06 UTC.