Almunajem Foods Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 902.9 | 902 | 0.099 | 829.2 | 8.888 |
| Gross Profit (Loss) | 195.8 | 155.7 | 25.754 | 156.5 | 25.111 |
| Operational Profit (Loss) | 117.8 | 88.5 | 33.107 | 86 | 36.976 |
| Net profit (Loss) | 114 | 81.9 | 39.194 | 81.6 | 39.705 |
| Total Comprehensive Income | 114 | 81.9 | 39.194 | 81.4 | 40.049 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,041.5 | 982.4 | 6.015 |
| Profit (Loss) per Share | 1.9 | 1.36 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| 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 quarter compared to the same quarter of the last year is | Revenue of 1st Quarter 2024 increased slightly by 0.1% reaching SR 903 million compared to same quarter of LY. This is mainly driven by the increase in sales volume in all categories except for Red & White Meat supported by improved trade conditions. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Increase in net profit for the 1st quarter of 2024 by 39.2 compared to the same quarter of the last year reaching SR 114 million due to the following main reasons:
- Increase in gross profit by 25.7% during the 1st quarter of 2024 because of the improvement in gross profit margins of some product categories, such as Red & White Meat, Dairy products and Fruits & Vegetables.
Despite of: - Slight increase in operating expenses which were mainly related with increase in marketing expenses due to Ramadan season. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue of 1st Quarter 2024 increased by 8.9% reaching SR 903 million compared to 4th Quarter 2023. This is driven by increase in overall sales volumes linked to Ramadan Season and partly by improved trade conditions in certain categories. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Increase in net profit for the 1st Quarter of 2024 compared to the 4th Quarter 2023 by 40% reaching to SR 114 million due to the following main reasons:
- increase in gross profit by 25.1% reaching SR 195.8 million, as a result of higher sales across all categories except fruits & vegetables and increase of gross margins of red & white meat, fruits & vegetables and olives & oil categories, compared with 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) | None |
| Reclassification of Comparison Items | None |
| Additional Information | The results include AMF share of results in associate (Baladi Poultry Company) amounting to SR 2M. The share in profit of associate was calculated from the date of acquisition up to March 31, 2024. |
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