Armah Sports Co. announces its Interim Financial results for the period ending on 2025-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 102.4 | 73.6 | 39.13 | ||
| Net profit (Loss) | 27.5 | 9.2 | 198.913 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 505.4 | 478 | 5.732 | ||
| Profit (Loss) per Share | 0.84 | 0.28 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | In the first half of the fiscal year 2025, the company achieved a significant increase in total revenue, reaching SAR 102.4 million, representing a notable growth of 39% compared to the same period last year. The increase in revenue was driven by the following factors:
• Growth in subscription and membership revenue by 34% and personal training fees by 96% due to increased demand and member base expansion. • Enhanced contribution from Non-LFL clubs. • Continued operational ramp-up that positively impacted revenue. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | In the first half of the fiscal year 2025, the company achieved a significant increase in net profit, reaching SAR 27.5 million compared to a net profit of SAR 9.2 million in the same period of last year, representing a remarkable growth of 199%. This can primarily be attributed to:
• Strong revenue growth and margins’ efficiency improvement. • A non-recurring gain of SAR 9.5 million from the sub-leasing of an existing leased land to a developer for building two fitness clubs. Upon completion of construction, Armah will lease back the clubs. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | The comparative financial statements have been amended and reclassified to conform with the accounting policies applied for this year, which have been prepared in accordance with IFRS, and the endorsements, interpretations, and other standards approved by the Saudi Organization for Certified Public Accountants. This has been explained in the note 15 to the financial statements. |
| Additional Information | Basic and diluted earnings per share is calculated by dividing the net profit attributable to the equity holders of the company with the weighted average number of shares outstanding during the period, which consisted of 32,859,166 weighted average number of shares for the current period and similar period for the previous year. |
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