Baazeem Trading Co. announces its Annual Financial Results for the Period Ending on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 263,353,491 | 259,905,021 | 1.33 | ||
| Gross Profit (Loss) | 97,881,388 | 96,982,739 | 0.93 | ||
| Operational Profit (Loss) | 26,918,943 | 27,858,130 | -3.37 | ||
| Net Profit (Loss) after Zakat and Tax | 21,775,621 | 21,550,718 | 1.04 | ||
| Total Comprehensive Income | 21,102,599 | 20,600,482 | 2.44 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 190,382,104 | 194,085,755 | -1.91 | ||
| Profit (Loss) per Share | 2.15 | 2.13 | |||
| All figures are in (Actual) 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 | The increase in net profit is driven by the increase on sales by 1%. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | Emphasis of matter:
We refer to note (2) regarding the Group’s information Baazeem Trading Est. (investment in Qatar) registered in the name of one of the main Shareholders (the Chairman of the Board of Directors) since 2008. This is approved in the minutes of the Board of Directors and the minutes of the General Assembly. |
| Reclassification of Comparison Items | Items, elements and notes of the comparatives Consolidated Financial Statements have been re-displayed, regrouped and reclassified to meet with the applied accounting policies for the current period, which have been prepared according to the International Financial Reporting Standards (IFRS) that were endorsed in the Kingdom of Saudi Arabia. Certain comparative amounts have been reclassified to conform to the current year’s presentation. |
| Additional Information | 1- there is loses of the actuarial profession for re-measurement the employee benefits with 673,022 SAR compared to 950,236 SAR on 31-12-2021.
2- The total shareholder's equity decreased by -1.83%, reaching 190,532,318 on 31/12/2022 compared to 194,085,755 on 31/12/2021, with no minority rights.
3. The earning by share on the financial year ending 31-21-2022 increased by 0.94% reaching 2.15 compared to 2.13 on the financial year ending 31-12-2021. Worth mentioning that the total number company shares is 10,125,000 shares. |
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