Arabian Plastic Industrial Co. (APICO) announces its Annual Financial Results for the period ending on 31-12-2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 156,647,002 | 154,570,760 | 1.34 | ||
| Gross Profit (Loss) | 28,038,062 | 21,337,351 | 31.4 | ||
| Operational Profit (Loss) | 16,444,637 | 12,088,190 | 36.04 | ||
| Net profit (Loss) | 13,030,774 | 9,301,832 | 40.09 | ||
| Total Comprehensive Income | 13,399,329 | 9,301,832 | 44.05 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 95,989,036 | 82,589,707 | 16.22 | ||
| Profit (Loss) per Share | 2.68 | 1.86 | |||
| 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 | Arabian Plastics Industry Company (APICO) achieved net revenues of 156 million Saudi riyals in fiscal year 2023, with increase of 1.34% compared to the previous year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Arabian Plastic Industrial Company (APICO) has achieved net profit of SR 13.03 million in FY 2023, representing an increase of 40.09% compared to previous year mainly because:
(a) The company achieved a decrease in production costs, including a decrease in raw material prices and operating costs, which led to an increase in Gross profit compared to the previous year by 31.40%.
(b) Company experienced increase in sales expenses, Admin expenses and finance cost of 23 % compared to the previous year. |
| 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 | N/A |
| Additional Information | N/A |
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