‎“Astra Industrial” profits decreased to SR114.7 million during ‎Q2, by 53%‎

The net profit after zakat and tax for the Astra Industrial Group decreased in the second quarter to 114.7 million riyals, compared to 243 million riyals in the same quarter of last year, by 52.8%. This came after today’s announcement of the preliminary financial results for the period ending on 06-30-2023. (6).

Operational profit amounted to 124 million riyals in the second quarter, compared to 91.4 million riyals in the same quarter of the previous year, an increase of 35.5%.

The net profit after zakat and tax during the 6-month period amounted to 237.6 million riyals, compared to 317.7 million riyals in the same period last year, a decrease of 25.22%.

The total shareholders’ equity “without minority rights” amounted to 1.883 billion riyals in the current period, compared to 1.644 billion riyals in the same period last year, at a rate of 14.5%.

Earnings per share in the current period reached 2.97 riyals, compared to 3.97 riyals in the same period last year.

The decrease in net profit is mainly due to:

– The similar quarter of the previous year included a profit from non-continuing operations.

High general and administrative expenses in the following sectors:

– other:

1. b) Specialty chemicals
2. c) Medicines

With the following note:

1) Increased sales in the following sectors:

1. a) Medicines
2. b) iron industries

2) A decrease in financing costs in the following sectors:

1. a) other
2. b) Specialty chemicals
3. C) iron industries

The decrease in net profit is mainly due to:

1) Declining sales in the following sectors:

1. a) Medicines
2. b) Specialty chemicals
3. c) other

Noting that there is a decrease in general and administrative expenses and selling and distribution expenses

The decrease in net profit is mainly due to:

1) The same period of the previous year included a profit from non-continuing operations.

2) An increase in general and administrative expenses in all sectors

With the following note:

1) Increased sales in the following sectors:

1. a) Medicines
2. b) iron industries

2) A decrease in net financing costs in the following sectors:

1. a) other
2. b) Specialty chemicals
3. C) iron industries

Total property rights at the end of the current period amounted to 1.954 billion riyals, compared to a total of 1.644 billion riyals at the end of the same period last year, an increase of 18%.