Nama Chemicals Co. announces its Annual Financial Results for the Period Ending on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 577,211 | 554,277 | 4.14 | ||
| Gross Profit (Loss) | 120,939 | 99,677 | 21.33 | ||
| Operational Profit (Loss) | 43,654 | 15,811 | 176.1 | ||
| Net Profit (Loss) after Zakat and Tax | 37,016 | 27,689 | 33.68 | ||
| Total Comprehensive Income | 36,165 | 46,476 | -22.18 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 385,976 | 349,811 | 10.34 | ||
| Profit (Loss) per Share | 1.57 | 1.18 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Nama Chemicals achieved a net profit of SAR 37 million in the fiscal year 2022, an increase of 33.7% year-on-year compared to SAR 27.7 million in the fiscal year 2021. The reason for achieving net profit during this year compared to the previous year is due to the:
• Increase in average selling prices of almost all finished products. • Decrease in selling & marketing expenses. • Decrease in general & admin expenses. • Reduction in finance costs.
Even though there was a reduction in other income. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | Specific comparative figures have been represented and classified to conform to the presentation for the current year's period. |
| Additional Information | The company's retained earnings and statutory reserve for the current year amounted to 157.4 million Saudi riyals, representing 66% of the capital, an increase of 30% compared to the company’s retained earnings and statutory reserve for the previous year.
It should also be noted that the company's management has corrected some accounting errors that belong to previous years, which have been restated in the comparative numbers of the financial statements for the current year (refer to note 31 of the financial statements). In this regard, this restatement aims at a fair presentation of the effects of transactions in compliance with the accounting standards. |
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