Al-Jouf Agricultural Development Co. — Earnings Release 2020

Mar 1, 2021

Al-Jouf Agricultural Development Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

6070 · 01/03/2021 09:29:16 · Announcement #62069 · View on Saudi Exchange

Al-Jouf Agricultural Development Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	223,210	224,448	-0.551
Gross Profit (Loss)	64,287	40,493	58.76
Operational Profit (Loss)	8,103	-16,086	-
Net Profit (Loss) after Zakat and Tax	21,351	-20,799	-
Total Comprehensive Income	19,391	-22,936	-
Total Share Holders Equity (after Deducting Minority Equity)	608,134	626,243	-2.891
Profit (Loss) per Share	0.71	-0.69
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	The reason for achieving a net income during year 2020 compared to net loss in year 2019 is mainly due to an increase in the gross margin compared to the previous year, which positively affected the increase in income from operation, In addition to the recognized of net gain SAR 25.46 million resulting from the ownership for the revived land, as well as the decrease in the impairment of property and equipment’s and biological assets, although the increase in selling and distribution cost and general and administrations and Zakat expenses due to recorded of Zakat difference related to prior years.
Statement of the type of external auditor's report	Unmodified opinion
Reclassification of Comparison Items	Certain comparative figures for the previous period have been reclassified to conform to the way they are presented for the current period.

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