Arab Sea Information System Co. announces its Annual Financial Consolidated Results for the Period Ending on 2021-12-31

Media Center March 9, 2022

Element List	Current Year	Previous Year	%Change
Sales/Revenue	57,450,145	24,122,503	138.159
Gross Profit (Loss)	37,504,743	5,307,116	606.687
Operational Profit (Loss)	10,670,860	-8,304,725	–
Net Profit (Loss) after Zakat and Tax	21,549,524	-15,832,868	–
Total Comprehensive Income	21,232,180	-15,704,633	–
Total Share Holders Equity (after Deducting Minority Equity)	147,215,839	125,983,659	16.853
Profit (Loss) per Share	2.15	-1.58
All figures are in (Actual) 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 the increase in net profit during this year compared to the previous year is due to 1- Revenues increased by 138.159% over the previous year. 2- Recovering the impairment in the value of intangible assets amounting to SR 11.67 million in accordance with Standard 36 of IFRS.
Statement of the type of external auditor’s report	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	We draw attention to Note (25) to this consolidated financial statements, which describes the adjustments in prior years due to errors. consequently, the retained earnings as at January 1, 2020, and the consolidated statement of financial position as at December 31, 2020, and the consolidated statement of comprehensive income for the year ended in December 31, 2020, where restated to reflect the correction of these errors, our opinion has not been modified with respect to this matter.
Reclassification of Comparison Items	Certain comparative figures for the year ended December 31, 2020 have been reclassified to conform to the current year’s presentation and classification.