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Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2020-03-31

22-06-2020 09:21:41

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue179.39177.620.996189.19-5.179
Gross Profit (Loss)-24.2-11.55109.523 -28.01-13.602
Operational Profit (Loss)-41.47176.59--135.19-69.324
Net Profit (Loss) after Zakat and Tax-217.251.62--344.59-36.954
Total Comprehensive Income-217.251.62--344.59-36.954
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Total Share Holders Equity (after Deducting Minority Equity)9,003.69,614.08-6.349
Profit (Loss) per Share -0.230.001
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LISTEXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed toThe reason for the net loss incurred for current quarter compared to the same quarter of the previous year is decrease of other income
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Reason for decrease in net loss for current quarter compared to the previous quarter is decrease in selling and marketing expenses, general and administrative expenses
Basis of the External Auditor's OpinionEmphasis of Matter paragraph
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor OpinionWe draw attention to Note 1 of the condensed consolidated interim financial statements, which indicates thatthe Group incurred
a net loss of SR 217 million during the three months period ended 31 March, 2020 and,as of that date, the Group’s current liabilities exceeded its current assets by SR 442 million. As stated in Note 1, these events or conditions, along with other matters as set forth therein, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our conclusion is not modified in respect of this matter
Reclassification of Comparison Items Not applicable
Additional InformationLoss of Non-controlling interests in the condensed consolidated statement of profit or loss and other comprehensive income for the three months period ended 31 Mar 2020 an amount SAR 53,002 ( Compared to an amount 55,779 SR for the period ended 31 Mar 2019)
The accumulated losses for the period ended 31 Mar 2020 amounted to 398,906,700 riyals, equivalent to 4.29% of the company's capital.

The actual earnings per share is SR 0.001 for the period ending 31 Mar 2019 but for the purpose of presenting the figures in line with financial statement we kept earning per share at 2 decimal places to become 0.00.

The company's business has been negatively affected by the precautionary measures taken to limit the spread of the Corona virus, please refer to Note 1 on the condensed Consolidated Interim Financial Statements for the period ended 31 March 2020.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

https://www.tadawul.com.sa

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