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30 June 2024
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ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CHANGE | PREVIOUS QUARTER | % CHANGE |
Sales/Revenue | 1,335,278 | 1,125,480 | 18.6% | 1,304,419 | 2.4% |
Gross Profit (Loss) | 213,243 | 150,922 | 41.3% | 199,453 | 6.9% |
Operational Profit (Loss) | 57,093 | (158,501) | 21,435 | 166.4% | |
Net Profit (Loss) | 6,098 | (184,094) | 5,427 | 12.4% | |
Total Comprehensive Income (Loss) | 5,220 | (184,230) | (15,459) | - |
ELEMENT LIST | CURRENT Period | Similar Period for Previous Year | % CHANGE |
Sales/Revenue | 2,639,697 | 2,164,678 | 21.9% |
Gross Profit (Loss) | 412,696 | 301,617 | 36.8% |
Operational Profit (Loss) | 78,528 | (142,249) | - |
Net Profit (Loss) | 11,525 | (197,906) | - |
Total Comprehensive Income (Loss) | (10,239) | (206,384) | (95.0%) |
Total Share Holders Equity (After Deducting the Minority Equity) | 441,564 | 564,499 | (21.8%) |
Profit (Loss) per Share | 0.19 | (3.30) | - |
ELEMENT LIST | Percentage of the Capital (%) | Amount |
Profit (Losses) Resulting from the Change in Investment Properties` Fair Value | - | - |
ELEMENT LIST | EXPLANATION |
The reason of the increase (decrease) in the sales/revenues during the current quarter compared to the same quarter of the last year is | Consolidated Sales during the period increased by 18.6% due to sales growth across all sectors. AC sector grew by 29.8%, Steel sector grew by 16.0%, and Insulation sector grew by 6.3%. |
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is |
Net Profit Increase Summary
Increase is also due to accounting of SAR 162.7 million write-off of inventory due to fire which was recorded in Q2 2023. However, the impact of the above is partly offset by income from discontinued operations of SAR 17.6 million which was accounted for in Q2 2023. |
The reason of the increase (decrease) in the sales/revenues during the current quarter compared to the previous one is | Consolidated Sales during the period increased by 2.4% due to growth in Steel sector by 5%. |
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is |
Net Profit increased due to:
However, the impact of the above is partly offset by lower other income by SAR 40.9 million which was accounted for in Q1 2024. |
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Consolidated Sales during the period increased by 21.9% due to Sales growth across all sectors. AC sector grew by 24.3%, Steel sector grew by 20.1% and Insulation sector grew by 12.4%. |
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
Net Profit Increase Summary
Increase is also due to accounting of SAR 171 million write-off of inventory due to fire and impairment loss on non-current assets which was recorded in H1 2023. However, the impact of the above is partly offset by lower income from discontinued operations of SAR 39.4 million which was accounted for in H1 2023. |
Statement of the type of external auditor's report | Unmodified Conclusion |
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 | Comparative figures have been reclassified to conform with the presentation in the current year. |
Additional information | None |