Saudi Marketing Company ( Farm Superstores ) announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )

10 August 2023 03:55 PM

FARM SUPERSTORES 4006 29.26% 25.80 5.84

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	449,221	452,407	-0.7	479,936	-6.4
Gross Profit (Loss)	134,244	127,890	4.97	136,887	-1.93
Operational Profit (Loss)	22,800	19,371	17.7	24,269	-6.05
Net Profit (Loss) after Zakat and Tax	6,388	5,381	18.71	7,446	-14.21
Total Comprehensive Income	6,438	5,260	22.39	7,480	-13.93
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	929,157	891,200	4.26
Gross Profit (Loss)	271,131	249,252	8.78
Operational Profit (Loss)	47,069	36,797	27.91
Net Profit (Loss) after Zakat and Tax	13,833	11,554	19.72
Total Comprehensive Income	13,918	11,444	21.62
Total Share Holders Equity (after Deducting Minority Equity)	650,337	646,399	0.61
Profit (Loss) per Share	0.31	0.26
All figures are in (Thousands) 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 of increase in the net profit during the current quarter compared to the same quarter of the previous year is as follows: - Increase in the revenue of the entertainment segment for the current quarter compared to the same quarter of previous year by SR 7.6 million, in addition to the better control on cost of revenues of farm superstores branches which resulted in an increase in the gross profit of the current quarter compared to the same quarter of previous year by SR 6.4 million. Although, minor decrease in total revenues for the current quarter compared to the same quarter of previous year by SR 3.2 million. Knowing that operating expenses for the current quarter compared to the same quarter of the previous year, have been increased by SR 2.9 million.
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 of decrease in the net profit during the current quarter compared to the previous quarter is as follows: - Decrease in revenues of the current quarter compared to the previous quarter by SR 30.7 million, is due to the decrease in the revenues of farm superstores branches for the current quarter compared to the previous quarter.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason of increase in the net profit during the current period compared to the same period of the previous year is as follows: - Increase in the revenues of the current period compared to the same period of the previous year by SR 38 million due to the increase in the revenues of farm superstores branches for the current period compared to the same period of the previous year, in addition to the increase in the revenue of the entertainment segment for the current period compared to the same period of the previous year. Knowing that operating expenses for the current period, compared to the same period of the previous year, have been increased by SR 11.3 million.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	Certain comparative figures have been reclassified to conform to the current period presentation.
Additional Information	- The net of non-operating costs and expenses charged to the profits of the current quarter amounted to SR 16.4 million compared to SR 14 million, which represents the net of non-operating costs and expenses charged to the profits of the same quarter of the previous year. - The net of non-operating costs and expenses charged to the profits of the current quarter amounted to SR 16.4 million, compared to SR 16.8 million, which represents the net of non-operating costs and expenses charged to the profits of the previous quarter. - The net of non-operating costs and expenses charged to the profits of the current period amounted to SR 33.2 million compared to SR 25.2 million, which represents the net of non-operating costs and expenses charged to the profits of the same period of the previous year.

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