| 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 |
Sales decreased by 5.9% compared to the same quarter of the previous year. The reason for this decline is attributed to the company's strategic focus on expanding retail sales through the establishment of new branches in various regions of the kingdom, which affected the wholesale sales value. However, the company managed to increase the value of retail sales by 11% compared to the same quarter of the previous year. This increase can be attributed to the growth of retail sales in the company's branches, supported by its two new branches in Jeddah and the Eastern Province. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is |
The company's profits have decreased in the current quarter compared to the same quarter of the previous year due to a decline in sales and an increase in expenses related to the expansion of retail branches throughout the country. Additionally, there were expenses associated with the industrial expansion of new production sites in the water sector. This decrease was also supported by expenses in the poultry sector, which is still under establishment in accordance to the company's future expansion plan. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is |
The company managed to achieve a 20% increase in the total company sales compared to the previous quarter. This increase was supported by the growth of retail sales in the water sector, which resulted from the company's expansion plans in the retail sector, particularly the sales from the new branches in Jeddah and the Eastern Province. Additionally, the seasonal impact of Ramadan contributed to boosting the sales in the water sector. Furthermore, the increase in the total sales was also supported by the sales of table eggs from the poultry sector |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is |
The company's net profits have increased compared to the previous quarter due to a rise in sales, which was supported by the expansion of the company's branches, particularly retail sales. Additionally, the impact of the Ramadan season contributed to boosting sales. This increase was also a result of a decrease in the Zakat provision and a decline in provisions for bad debts compared to the previous quarter. |
| 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) |
not applicable |
| Reclassification of Comparison Items |
Some numbers in the financial statements have been reclassified compared to the same quarter of the previous year. The most significant reclassification was the inclusion of revenue from the transportation sector and the associated costs within the company's main operations. Additionally, revenue from time deposits has been transferred from operating income to other revenues. |
| Additional Information |
- |
Comments