Retailing and Operation Division

New PageSaudi Automotive Services Co. (SASCO) announces interim financial results for the period ended June 30, 2021 (Six Months)

03 August 2021
Retailing and Operation Division

 

ELEMENT LIST

CURRENT QUARTER

SIMILAR QUARTER FOR PREVIOUS YEAR

%CHANGE

PREVIOUS QUARTER

% CHANGE

Sales/Revenue

955.86

297.37

221.437

750.54

27.356

Gross Profit (Loss)

34.94

46

-24.043

37.65

-7.197

Operational Profit (Loss)

26.06

13.84

88.294

23.53

10.752

Net Profit (Loss) after Zakat and Tax

12.08

4.44

172.072

12.01

0.582

Total Comprehensive Income

11.24

6.64

69.277

12.95

-13.204

All figures are in (Millions) Saudi Arabia, Riyals

 

ELEMENT LIST

CURRENT PERIOD

SIMILAR PERIOD FOR PREVIOUS YEAR

%CHANGE

Sales/Revenue

1,706.41

938.44

81.834

Gross Profit (Loss)

72.59

76.32

-4.887

Operational Profit (Loss)

49.59

30.97

60.122

Net Profit (Loss) after Zakat and Tax

24.09

12.56

91.799

Total Comprehensive Income

24.19

9.99

142.142

Total Share Holders Equity (after Deducting Minority Equity)

816.94

801.43

1.935

Profit (Loss) per Share

0.4

0.21

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 reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to an increase in revenues by 221%, in addition to the inclusion of the same quarter of the previous year the provision for expected credit losses. In spite of the increase in marketing expenses, general and administrative expenses, financing costs and zakat expense and a decrease in other revenues.

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 profit during the current quarter compared to the previous quarter is due to an increase in revenues by 27% and a decrease in general and administrative expenses, despite the increase in marketing expenses, financing costs, zakat expense and a decrease in other revenues.

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 increase in net profit during current period compared to the same period of the previous year is due to an increase in revenues by 82%, and an increase in investment profits, in addition to the inclusion of the same period of the previous year to provision for expected credit losses. In spite of the increase in general and administrative expenses, marketing expenses, financing costs and zakat expenses with a decrease in other revenues.

Statement of the type of external auditor's report

Unmodified conclusion

Reclassification of Comparison Items

do not apply

Additional Information

- Comparative period for year 2020 includes the initiatives granted by the state in addition to the rental discounts obtained during the epidemic period, which contributed to reducing the cost of revenue, which led to an increase in the total profit for the period for year 2020.

- Despite the company’s positive results during the period ending on June 30, 2021, the company’s income in general was negatively affected as a result of the precautionary measures to confront the COVID -19, represented by the continuation of online education, the restrictions imposed on Hajj and Umrah.

Attached Documents