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Sabic Agri-Nutrients Co. announces its interim financial results for the period ending on 31-03-2022 (Three Months)

5/10/2022

ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
Sales/Revenue4,6571,506209.2294,04015.272
Total Profit (Loss)3,025645368.9923,191-5.202
Profit (Loss) Operational2,614502420.7172,993-12.662
Net Profit (Loss) after Zakat and Tax2,513423494.0892,764-9.081
Total Comprehensive Income2,579524392.1752,792-7.628
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
Total Share Holders Equity (after deducting minority equity)18,13011,78553.839
Profit (Loss) per Share5.280.89
All figures are in (Millions) Saudi Arabia, Riyals


ELEMENTEXPLANATION
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 of the increase in the net profit for the current quarter compared to the same quarter last year:
• Increase in quantities sold of company's products.
• Increase in average selling prices of company's products.
Despite the increase in net profit, it has been limited by:
• Increase in selling and distribution expenses.
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 of the decrease in the net profit for the current quarter compared with previous quarter:
• Increase in selling and distribution expenses.
• Increase in general and administrative expenses.
Statement of the type of external auditor's reportUnmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion NA
Reclassification of Comparison Items

NA

 Additional InformationOn 1st of Jan 2022, SABIC Agri Nuitrent becomes the marketer to sell it’s own products which impact the company financial performance by having higher revenue and higher logistic cost which SABIC was our Marketer before.
In addition and due to the Covid-19 impact, the global logistic cost have increased.