| Element List |
Explanation |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is |
Despite the increased sales by 41% compared to the same quarter last year, the net loss increased mainly due to the increased production costs at the shrimp farm. Longer harvest cycles and variable costs hiked up the overall production cost. Selling & distribution and general admin expenses almost remained the same comparatively. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is |
The increase in net loss compared to the last quarter is higher production cost in the current period besides the change in gains from biological evaluation. Another reason for the losses increase is the increase the fixed costs and underutilization of assets at farms. |
| Statement of the type of external auditor's report |
Unmodified conclusion |
| Reclassification of Comparison Items |
N/A |
| Additional Information |
Total accumulated losses at the end of the first quarter amounted to SAR 144 million, equivalent to 36% of the capital as of March 31st, 2022. The company is confirming its adherence with the procedures and instructions issued by the capital market authority for the listed companies in the Saudi Stock Market with accumulated losses of 35% or more of its capital. |
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