Anaam International Holding Group announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 14,688 | 10,606 | 38.49 | 13,003 | 12.96 |
| Gross Profit (Loss) | 9,201 | 6,172 | 49.08 | 6,978 | 31.86 |
| Operational Profit (Loss) | 2,894 | 985 | 193.81 | 1,684 | 71.85 |
| Net Profit (Loss) after Zakat and Tax | 1,004 | 7,169 | -86 | 1,762 | -43.02 |
| Total Comprehensive Income | 1,004 | 7,169 | -86 | 1,762 | -43.02 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 39,777 | 17,794 | 123.54 |
| Gross Profit (Loss) | 22,374 | 6,646 | 236.65 |
| Operational Profit (Loss) | 5,537 | -7,359 | - |
| Net Profit (Loss) after Zakat and Tax | 5,114 | 8,749 | -41.55 |
| Total Comprehensive Income | 5,114 | 8,749 | -41.55 |
| Total Share Holders Equity (after Deducting Minority Equity) | 286,573 | 321,506 | -10.87 |
| Profit (Loss) per Share | 0.01 | 0.03 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 34,191 | 315,000 | 11 | |
| 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 for the decrease in the net profit during the current quarter compared to the same quarter for the previous year's profit, is due to the decrease in the revenues generated from investment properties valuation, and due to the increase in finance cost in the current quarter compared to the same quarter of the previous year. |
| 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 in the net profit during the current quarter compared to the previous quarter is due to the losses from investment properties valuation in this quarter compared to the profit realized from the same in the second 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 for the decrease in the profit during the current period compared to the same period of previous year is due to the increase in the finance cost and the decrease of profit from investment properties valuation. |
| Statement of the type of external auditor's report | Emphasis of Matter |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | Material uncertainty related to going concern:
We draw attention to note 2.1 to the interim condensed consolidated financial statements which indicates that the Group’s accumulated losses amounted to SR 34.2 million as at 30 September 2023 and as of that date the Group’s current liabilities exceeded its current assets by SR 231.9 million. These events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our conclusion is not modified in respect of this matter.
Emphasis of Matters: We draw attention to the following: As stated in note no. 4 to the accompanying interim condensed consolidated financial statements, the property, plant and equipment includes a plot of land amounting to SR 14 million for which the ownership and the title deed is not yet registered in the name of the Company.
As stated in note no. 5 to the accompanying interim condensed consolidated financial statements, the investment properties include a plot of land with a fair value of SR 16.5 million of which the ownership and the title deed is not registered in the name of the Company.
Our conclusion is not modified in respect to these matters.
Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34 that is endorsed in the Kingdom of Saudi Arabia . |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to conform to the current presentation |
| Additional Information | The accumulated losses till end of the period 30/09/20223 are 34 million Saudi riyals, at 11% of the capital, as of SEP 30, 2023.
The gross profit has increased by 49% compared to the previous year mainly as a result of a 38% increase in sales. |
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