17 May 2023
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ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CHANGE | PREVIOUS QUARTER | % CHANGE |
Sales/Revenue | 1,039,198 | 896,796 | 15.9% | 1,060,827 | (2.0%) |
Gross Profit (Loss) | 146,776 | 97,203 | 51.0% | 186,034 | (21.1%) |
Operational Profit (Loss) | 24,504 | (27,453) | – | (45,116) | – |
Net Profit (Loss) after Zakat and Tax | (13,812) | (51,921) | (73.4%) | (99,590) | (86.1%) |
Total Comprehensive Income | (22,154) | (60,773) | (63.6%) | (99,854) | (77.8%) |
ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | % CHANGE |
Total Shareholders' Equity (after deducting minority equity) | 748,729 | 905,951 | -17.4% |
Profit (Loss) per Share | (0.23) | (0.87) | – |
ELEMENT LIST | EXPLANATION |
The reason for the increase (decrease) in net profit during the current quarter compared to the same quarter of the last year is | Net loss reduced due to: 1) Higher sales across all sectors resulted in an improvement in Gross Profit and Operating Profit; 2) Higher profits from associated companies by SAR 3 million; 3) Higher income from discontinued operations due to the reversal of a previously recognized impairment loss of SAR 22 million. However, the impact of the above is partly offset by the following: 1) Higher Financial Charges by SAR 27 million. 2) Impairment loss on property, plant and equipment of SAR 8.2 million as a result of the fire outbreak that occurred on 3 March 2023 at the Zamil Air Conditioners and Home Appliances Company factory (one of the subsidiaries). Surveyors are in the process of assessing the extent of the loss, following which a claim will be filed for reimbursement from the insurance company. 3) Lower Other Income by SAR 3 million. |
The reason for the increase (decrease) in net profit during the current quarter compared to the previous quarter of the current year is | Net loss reduced due to: 1) Higher sales resulted in an improvement in Operating Profit in the Air Conditioning and Insulation Sectors; 2) Lower Zakat and Tax by SAR 3.4 million; 3) Higher income from discontinued operations due to the reversal of a previously recognized impairment loss of SAR 22 million. |
Statement of the type of external auditor's report | Unmodified Conclusion |
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor's Opinion | None |
Reclassification of Comparison Items | Comparative figures have been reclassified to conform with the presentation in the current period. |
Additional information | – |