Saudi Fisheries Co. announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

Saudi Fisheries Co. announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

|Element List||Current Quarter||Similar quarter for previous year||%Change||Previous Quarter||% Change|

|Sales/Revenue||9,807||11,971||-18.08||12,278||-20.12|

|Gross Profit (Loss)||-16,000||-5,284||202.8||2,803||-|

|Operational Profit (Loss)||-25,540||-17,794||43.53||-6,965||266.69|

|Net Profit (Loss) after Zakat and Tax||-26,379||-18,464||42.87||-8,029||228.55|

|Total Comprehensive Income||-26,379||-18,464||42.87||-8,029||228.55|

|All figures are in (Thousands) Saudi Arabia, Riyals|

|Element List||Current Period||Similar period for previous year||%Change|

|Sales/Revenue||39,065||33,783||15.63|

|Gross Profit (Loss)||-18,967||-2,920||549.55|

|Operational Profit (Loss)||-47,326||-35,285||34.12|

|Net Profit (Loss) after Zakat and Tax||-49,918||-37,848||31.89|

|Total Comprehensive Income||-49,918||-37,848||31.89|

|Total Share Holders Equity (after Deducting Minority Equity)||221,351||271,269||-18.4|

|Profit (Loss) per Share||-1.25||-0.95|

|All figures are in (Thousands) Saudi Arabia, Riyals|

|Accumulated Losses||Capital||Percentage %|

|-178,546||400,000||-44.63|

|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|| Decrease of 18% in sales mainly due to a drop in retail sales and the higher production cost of the 2nd shrimp cycle. Furthermore, higher FCR increased shrimp costs and lower survival lead to biomass loss.

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Moreover, SR 3.72 million loss due to the fair value of the biological assets during the current quarter.

|The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is||Due to the higher cost of production in the 2nd cycle which impacted unfavourable gross profit. Production cost during the previous period of the current year was comparatively lower