Jazan Energy and Development Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )

23/05/2022 Tadawul
ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER % CHANGE
Sales/Revenue 26,312,946 23,176,937 13.53 36,355,646 -27.623
Gross Profit (Loss) 8,597,533 6,492,780 32.416 10,122,163 -15.062
Operational Profit (Loss) 3,965,562 2,599,849 52.53 2,302,808 72.205
Net Profit (Loss) after Zakat and Tax 3,563,597 2,026,665 75.835 1,532,375 132.553
Total Comprehensive Income 3,379,750 2,247,036 50.409 7,377,746 -54.189
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LIST CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR %CHANGE
Total Share Holders Equity (after Deducting Minority Equity) 547,809,032 526,157,051 4.115
Profit (Loss) per Share 0.07 0.04
All figures are in (Actual) Saudi Arabia, Riyals
  ACCUMULATED LOSSES CAPITAL PERCENTAGE %
  40,596,745 500,000,000 8
All figures are in (Actual) 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 in net profit during the current quarter compared to the comparative quarter of the previous year is due to the increase of sales by 14% where the sales of the agricultural and the aquaculture sectors grew by 25%. Furthermore, revenues from the Real estate sector increased by 16% due to an increase in the occupancy rate. However, despite the decline of the industrial sector (bottled water factory) sales by 29%, the company has achieved growth in net profits for this quarter by 76% compared to the comparative quarter of the previous year.
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 reason for the increase in net profit during the current quarter compared to the previous quarter is due to the decrease in the selling and marketing expenses and the general and administrative expenses, despite the decrease in sales compared to the previous quarter.
Statement of the type of external auditor's report Qualified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion Basis for Qualified Conclusion:

 

Based on the information provided to us by management, The investment in One of the associate companies was valued as of March 31, 2022 , (also, as at December 31, 2021) based on draft financial statements due to the lack of audited financial statements Of the associate company as mentioned in note No. (7) of the accompanying notes of the condensed consolidated Interim financial statements. We were unable to perform alternative procedures to verify the accuracy and valuation of that investment, as well as the accuracy and completeness of its results.
Reclassification of Comparison Items Some comparative figures for the previous period have been reclassified to conform to the presentation used for the current period.

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