Date : 09/06/2024
Element List | Current Year | Previous Year | %Change | ||
---|---|---|---|---|---|
Sales/Revenue | 270.49 | 314.38 | -13.96 | ||
Gross Profit (Loss) | 76.41 | 80.4 | -4.96 | ||
Operational Profit (Loss) | 28.67 | 33.77 | -15.1 | ||
Net profit (Loss) | 26.94 | 16.92 | 59.22 | ||
Total Comprehensive Income | 26.21 | 15.12 | 73.35 | ||
Total Shareholders Equity (after Deducting Minority Equity) | 239.03 | 242.82 | -1.56 | ||
Profit (Loss) per Share | 1.35 | 0.85 | |||
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Amount | Percentage Of The Capital (%) | |
---|---|---|---|
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | – | – | |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Explanation |
---|---|
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Sales decreased this year compared to the previous year by 13.96%, mainly due to a decrease in ink sector sales caused by the cancellation of the HP brand distribution agreement. |
The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit increased this year compared to the previous year by 59.22% despite the decrease in sales and the increase in operating expenses. This is due to: –
* The profit margin rate increased this year from 25.6% to 28.30% due to a change in the sales mix in which the sales of low-margin inks declined and were replaced with items of high-margin.
* Goodwill impairment loss resulting from the investment in Al-Maujah Trading Company (a subsidiary) was recorded in the previous year amounted to (12.4) Million Riyals, while no loss was recorded in the current year.
* Rent revenue increased by SR. 928 thousand in the current year compared to the previous year.
* Decrease in the Provision for Zakat in the current year since the zakat base is lower than in the previous year. |
Statement of the type of external auditor’s report | Unmodified opinion |
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
Reclassification of Comparison Items | None |
Additional Information | None |