Tam Development Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 188,403,128 | 147,073,483 | 28.1 | ||
| Gross Profit (Loss) | 89,762,028 | 54,824,409 | 63.73 | ||
| Operational Profit (Loss) | 44,138,521 | 30,051,048 | 46.88 | ||
| Net profit (Loss) | 40,601,961 | 27,927,936 | 45.38 | ||
| Total Comprehensive Income | 40,692,754 | 28,395,630 | 43.31 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 109,759,126 | 71,621,024 | 53.25 | ||
| Profit (Loss) per Share | 12.33 | 7.8 | |||
| All figures are in (Actual) 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 (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The increase in revenues during the current year compared to last year is mainly due to an increase in the company's activity and sales. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | "Net profit increased by 45.4%, reaching 40,601,961 Saudi riyals in the fiscal year 2023, compared to 27,927,936 Saudi riyals in the fiscal year 2022. This increase in net profit was driven mainly by the following:
- Higher revenue, which grew by 28.1% reaching 188,403,128 Saudi riyals in fiscal year 2023 compared to 147,073,483 Saudi riyals in fiscal year 2022. - Gross profit increased by 63.7% reaching 89,762,028 Saudi riyals in fiscal year 2023, resulting in a gross profit margin of 47.6%, an increase compared to the 37.3% achieved in fiscal year 2022. - Operating profits increased by 46.9% reaching 44,138,521 Saudi riyals, compared to 30,051,048 Saudi riyals in fiscal year 2022." |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | N / A |
| Reclassification of Comparison Items | Certain figures of comparatives have been reclassified to conform to the presentation of the current year's financial statements. |
| Additional Information | - |
Comments