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March 26, 2023| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 40,847,398 | 57,450,145 | -28.9 | ||
| Gross Profit (Loss) | 19,469,037 | 37,504,743 | -48.09 | ||
| Operational Profit (Loss) | -9,445,787 | 10,670,860 | – | ||
| Net Profit (Loss) after Zakat and Tax | -10,439,023 | 21,549,524 | – | ||
| Total Comprehensive Income | -10,933,045 | 21,232,180 | – | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 136,282,794 | 147,215,839 | -7.43 | ||
| Profit (Loss) per Share | -1.04 | 2.15 | |||
| 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 decrease in net profit during this year compared to the previous year is due to the following: 1- Revenues decreased during this year by 28.89% compared to the previous year. 2- General and administrative expenses increased during this year by 43% compared to the previous year. |
| 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 | do not apply |
| Reclassification of Comparison Items | do not apply |
| Additional Information | We would like to clarify that the reason for the increase in general and administrative expenses during the year 2022 is due to: 1- The company established a subsidiary (Arab Sea Financial Company), where the cost of establishment during the year 2022 amounted to 3,602,186 SR 2- The company established another subsidiary (Era data Information Technology), where the cost of its establishment during the year 2022 was the amount of 5,000,000 SR. The financial impact of the subsidiaries companies will appear as of fiscal year 2023 |
كل عام والسعودية تُعانق السماء مجدًا وطموح وإزدهار اللهم ادم علينا الامن والامان والرخاء واحفظ هذه البلاد وقادتها من كل سوء
