Wafrah for Industry and Development Co. — Earnings Release 2015

Feb 23, 2016

Wafrah for Industry and Development Co. announces the annual financial results for the period ending on 31-12-2015

2100 · 23/02/2016 08:50:41 · Announcement #41329 · View on Saudi Exchange

Wafrah for Industry and Development Co. announces the annual financial results for the period ending on 31-12-2015

Element	Current year	Previous year	% Change
Net profit (loss)	-5,508,896	33,630	-
Earning or loss per share, Riyals	-0.28	0	-
Gross profit (loss)	24,946,001	25,765,053	-3.18
Operational profit (loss)	-4,445,723	-2,604,771	-70.68

*All figures are in Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	The main reason for the loss back in 2015 to increase the cost of sales due to decrease of sales and selling at a low price because of the intense competition in the market during the first three quarters of the year as well as increased depreciation as a result of adding assets during the year amounted of $ 14 million over the previous year, in addition of significant drop in other revenue of three million, eight hundred thousand SAR approx.
Other notes	Please be informed that the profit for share was 0.002 SAR last year.

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