Saudi Fisheries Co. announces its Annual Financial Results for the Period Ending on 2021-12-31
- Date: 22-Mar-2022
- Source: Mubasher
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi Fisheries Co. announces its Annual Financial Results for the Period Ending on 2021-12-31
|Element List||Current Year||Previous Year||%Change|
|Sales/Revenue||47,586||40,948||16.21|
|Gross Profit (Loss)||16,852||2,728||517.741|
|Operational Profit (Loss)||-30,838||-34,350||-10.224|
|Net Profit (Loss) after Zakat and Tax||-34,185||-40,650||-15.904|
|Total Comprehensive Income||-34,126||-40,819||-16.396|
|Total Share Holders Equity (after Deducting Minority Equity)||271,269||305,395||-11.174|
|Profit (Loss) per Share||-0.85||-1.4|
|All figures are in (Thousands) Saudi Arabia, Riyals|
|Element List||Explanation|
|The reason of the increase (decrease) in the net profit during the current year compared to the last year is|| -Sales increased by 16% comparing to the previous year due to resume operating the shrimp farms in Al-Huraidah.
|
-The increase in the Gross profit due to the gains from the revaluation of biological assets by an amount of SAR 12 million.
-The cost of sales decreased to 90% of gross sales compared to 94% of the previous year because of operating shrimp farm and decreasing fixed costs of production units.
-Other income increased by 39% from the interest of a Murabaha deposit.
-18% increase in marketing and sales expenses due to Subscriptions and promotions at restaurant delivery apps.
|Statement of the type of external auditor's report||Unmodified opinion|
|Reclassification of Comparison Items||Certain items and disclosures of the comparative year’s financial statements have been reclassified to comply with the current period presentation.|
|Additional Information|| -Total accumulated losses at the end of the current year amounted to SAR 128.6 million, equivalent to 32.15% of the capital as