Keir international announces its annual financial results for the period ending 31-12-2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 209,173,306 | 171,410,631 | 22.03 | ||
| Gross Profit (Loss) | 45,025,667 | 44,515,308 | 1.15 | ||
| Operational Profit (Loss) | 26,009,564 | 28,873,269 | -9.92 | ||
| Net profit (Loss) | 9,835,098 | 19,840,242 | -50.43 | ||
| Total Comprehensive Income | 9,997,330 | 19,794,732 | -49.49 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 242,906,112 | 241,836,891 | 0.44 | ||
| Profit (Loss) per Share | 0.08 | 0.16 | |||
| 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 company's revenues increased to 209.1 million for the year ended December 31, 2023, representing a growth rate of 22.03% compared to the same period of the previous year.
This increase is attributed to: Expansion of the company's projects, including projects with the Saudi Electricity Company and software projects. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit decreased to 9.8 million for the year ended December 31, 2023, representing a decrease of 50.42% compared to the same period of the previous year. This decrease is attributed to:
Expansion of the company's projects, leading to an increase in operating expenses, including the recruitment of staff for company departments, and higher labor wages and material prices compared to prices and wages from the previous year. Additionally, there is an increase in financing costs for existing projects, impacted by the rise in cyber rates. |
| 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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