Herfy Food Services Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

09 May 2023 06:14 AM

HERFY FOODS 6002 2.64% 31.05 0.80

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	275,126,129	330,996,890	-16.88	314,513,512	-12.52
Gross Profit (Loss)	54,280,305	96,938,587	-44.01	91,267,308	-40.53
Operational Profit (Loss)	-4,445,451	36,672,791	-	-48,943,412	-90.92
Net Profit (Loss) after Zakat and Tax	-12,816,131	26,715,416	-	-65,993,413	-80.58
Total Comprehensive Income	-12,816,131	26,715,416	-	-65,993,413	-80.58
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	1,043,736,773	1,070,314,230	-2.48
Profit (Loss) per Share	-0.2	0.41
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for net losses for the 1st Quarter of 2023 compared to the net profit achieved for the same quarter of 2022 mainly attributed to the decrease of Sales by 16.8 % which contributed to the partial seasonal shift of the Month of Ramadan from Q2 2022 to Q1 2023, in addition to the increase of the selling and Marketing expenses, despite the decrease of the General and Administration Expenses and the finance cost and the increase of other income.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	The reason for the decrease of the net losses for the 1st Quarter of 2023 compared to the net losses achieved for the previous quarter last year 2022 to the decrease of the selling and marketing expenses and the decrease of the General and Administration expenses and the finance cost and the increase of other income, also that the reason for net losses for the 1st Quarter 2023 due to the decrease of Sales by 12.5 % compared to the previous quarter.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	Certain comparative figures have been modified and reclassified to conform with the 1st Quarter 2023 presentation for more information refer to note No. (21) of the financial statements.
Additional Information	For more information refer to the financial statements report, which will be uploaded to the Tadawul website during the regular period.

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