Aldrees Petroleum and Transport Services Co.(ALDREES) announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )
1445/04/03 18/10/2023 09:16:00
| Element List |
Current Quarter |
Similar Quarter For Previous Year |
%Change |
Previous Quarter |
% Change |
| Sales/Revenue |
3,883.2 |
3,256.2 |
19.25 |
3,580.6 |
8.45 |
| Gross Profit (Loss) |
175.8 |
150.4 |
16.89 |
168.9 |
4.08 |
| Operational Profit (Loss) |
106.6 |
88.9 |
19.91 |
104.4 |
2.11 |
| Net Profit (Loss) after Zakat and Tax |
67.6 |
61.7 |
9.56 |
70.2 |
-3.7 |
| Total Comprehensive Income |
67.6 |
61.7 |
9.56 |
70.2 |
-3.7 |
| All figures are in (Millions) Saudi Arabia, Riyals |
| Element List |
Current Period |
Similar Period For Previous Year |
%Change |
| Sales/Revenue |
10,882.4 |
9,023.9 |
20.59 |
| Gross Profit (Loss) |
508 |
423.1 |
20.07 |
| Operational Profit (Loss) |
314.4 |
256.1 |
22.76 |
| Net Profit (Loss) after Zakat and Tax |
208.3 |
170 |
22.53 |
| Total Comprehensive Income |
208.3 |
170 |
22.53 |
| Total Share Holders Equity (after Deducting Minority Equity) |
1,167.7 |
1,052.7 |
10.92 |
| Profit (Loss) per Share |
2.78 |
2.27 |
| 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 of net profit for the current quarter compared with the same quarter last year is due to the increase of Petrol and Transport Division sales, and increase of the deposit income, increase of income of the joint project investment, and increase in the income of Sukuk investment. And the decrease of Marketing and Selling Expense, although there is an increase of General, Administrative Expenses, Financial and Zakat expenses, and a decrease in other income and there is no impact in the current quarter from the investment portfolio that was present in the same quarter of the previous year that was liquidated. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is |
The reason for the decrease of net profit for the current quarter compared with the previous quarter is due to the decrease of the other income and increase in Selling and Marketing, General, Administrative and Financial Expenses and Zakat expense although there is an increase of Petrol and Transport Division sales and increase in the deposit income and increase of income of the joint project investment. |
| 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 the increase during the current period compared to the same period of the previous year is due to the increase of sales of Petrol and Transport Division, the increase in the deposit income, increase of income of the joint project investment, and increase in the income of Sukuk investment. And the decrease in selling and marketing expenses despite the increase in General and Administrative expenses, Financial and Zakat expenses, and a decrease in the profit of the joint venture and the decrease in the other income and there is no impact in the current quarter from the investment portfolio that was present in the same quarter of the previous year that was liquidated. |
| Statement of the type of external auditor's report |
Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion |
The financial statements for the year ended 31 December 2022 were audited by our previous Auditing firm that expressed an unqualified opinion on those financial statements on 29 Jumada AlThani 1444H (corresponding to 22 January 2023). Also, the interim condensed financial statements of the Company for the period ended 30 Sep 2022 were reviewed by another auditor who expressed an unqualified conclusion on those interim condensed financial statements on 21-03-1444H (corresponding to 17 October 2022). |
| Reclassification of Comparison Items |
Certain comparative figures for the previous period have been reclassified in order to conform with the current period's classification. |
| Additional Information |
The adjustment to the operating income for the previous year for quarter and period results is due to the reclassification of other incomes to be included in the operating income before Zakat. |
