- Revenue:

The Company’s revenue for the current quarter increased by 22.55% compared to the similar quarter last year, this was mainly on account of increase in sales of dairy and food processing sector by 23.37% and sales of Agri sector by 28.99%

- Cost of sales:

Cost of sales percentage on revenue decreased during the current quarter by 6.22% compared to the similar quarter last year was mainly on account of the increase in the selling prices.

- Share of results from Joint Venture:

Current quarter the company recognized SAR 7.61 million which represents its share of profit from Joint venture investment but no such income in similar quarter last year.

Despite the changes in preceding elements that positively impacted the net profit of the Company in the current quarter, there are other elements that negatively impacted the net profit of the current quarter as follows:

-Selling and marketing expenses:

Selling and marketing expenses increased in the current quarter by 26.41% compared to similar quarter last year was mainly on account of increase in brand and marketing activities.

- General and Administrative expenses:

General and administrative expenses increased in the current quarter by 39.58% compared to similar quarter last year was mainly on account of increase in employee cost and professional consultancy fee due to the Company’s Strategy Projects.

- Impairment losses on Trade Receivables:

Impairment losses on Trade Receivable increased in the current quarter by SR 4.18 million compared to similar quarter last year was mainly on account of increase receivable balances.

-Finance cost:

Finance cost increased in the current quarter by 43.31% compared to the similar quarter last year was due to the increase in the interest rates because of increase in SIBOR.

All the above elements collectively impacted the gross profit and operating profit as follows:

-Gross profit:

Gross profit of the current quarter increased by 46.83% compared to the similar quarter last year, due to the increase in the revenue by 22.55% and decrease in percentage of cost of sales over the net revenue 6.22%.

-Operating profit:

Operating profit of the current quarter increased by 119.34% compared to the similar quarter last year primarily due to increase in sales, decrease in cost of sales percentage over revenue and this increase partially offset by increase in selling & marketing expenses and general & admin expenses.

- Revenue:

The Company’s revenue for the current quarter increased by 9.57% compared to the previous quarter was mainly on account of increase in sale of dairy and food processing sector by SAR 13.53 million and this increase was partially offset by decrease in sale of Agri sector by 49.89%.

- Provision for other receivables:

During the previous quarter provision of SR 18.50 million made for the other receivables which are doubtful but no such items in the current quarter.

On the other hand, the below elements had a negative impact on the net profit of the current quarter compared to the previous quarter:

-Selling and marketing expenses:

Selling and marketing expenses increased in the current quarter by 15.11% compared to the previous quarter mainly on account of increase in brand and marketing activities.

- General and Administrative expenses:

General and administrative expenses increased in the current quarter by 26.70% compared to the previous quarter mainly on account of increase in professional consultancy fee due to the Company’s Strategy Projects.

-Finance cost:

Finance cost increased in the current quarter by 3.24% compared to the previous quarter on account of increase in interest rates.

All the above elements collectively impacted the gross profit and operating profit as follows:

-Gross profit:

Gross profit increased in the current quarter by 9.37% compared to the previous quarter was due to increase in the revenue by 9.57%.

-Operating profit:

Operating profit of the current quarter decreased by 17.13% compared to the previous quarter due to increase in sales and this increase partially offset by increase in selling & marketing expenses and general & admin expenses.

- Revenue:

The Company’s revenue for the current period increased by 18.40% compared to the similar period last year, this was mainly on account of increase in sales of dairy and food processing sector by 20.45% and this increase is partially offset by decrease in Agri sales by 22.85%.

- Cost of sales:

Cost of sales percentage on revenue decreased during the current period by 7.67% compared to the similar period last year was mainly on account of the increase in selling prices.

- Share of results from Joint Venture:

Current period the company recognized SAR 14.01 million which represents its share of profit from Joint venture investment compared to loss of SAR 8.16 million the similar period last year.

Despite the changes in preceding elements that positively impacted the net profit of the Company in the current period, there are other elements that negatively impacted the net profit of the current period as follows:

-Selling and marketing expenses:

Selling and marketing expenses increased in the current period compared to the similar period last year by 20.07% was mainly on account of increase in brand and marketing activities.

- General and Administrative expenses:

General and administrative expenses increased in the current period by 28.58% compared to the similar period last year was mainly on account of increase in employee cost and professional consultancy fee due to the Company’s Strategy Projects.

- Provision for other receivables:

During the current period provision of SR 40.50 million made for the other receivables which are doubtful.

- Other income/expenses (net):

Other expenses increased by SAR 17.01 million in the current period was mainly on account of increase in loss on culling of the cows.

-Finance cost:

Finance cost increased in the current period compared to the similar period last year by 59.24% due to the increase in the interest rates because of increase in SIBOR.

All the above elements collectively impacted the gross profit and operating profit as follows:

-Gross profit:

Gross profit of the current period increased by 48.87% compared to the similar period last year, due to the increase in the revenue by 18.40% and decrease in percentage of cost of sales over the net revenue 7.67%.

-Operating profit:

Operating profit of the current period increased compared to the similar period last year by 95.79% due to increase in sales and decrease in cost of sales percentage over revenue and this increase partially offset by increase in selling & marketing expenses and general & admin expenses.

2-The net profit for the current period reached SAR 178.08 million compared to net profit of SAR 70.37 million for the similar period last year with an increase of 153.06%.

3-The net profit for the current quarter reached SAR 75.27 million compared to net profit of SAR 65.13 million for the previous quarter with an increase of 15.56%.

4-The total comprehensive income for the current quarter reached SAR 75.12 million compared to total comprehensive income of SAR 27.70 million for the similar quarter last year with an increase of 171.23%.

5-The total comprehensive income for the current period reached SAR 177.91 million compared to total comprehensive income of SAR 71.48 million for the similar period last year with an increase of 148.88%.

6-The total comprehensive income for the current quarter reached SAR 75.12 million compared to total comprehensive income of SAR 65.32 million for the previous quarter with an increase of 15.01%.

7-Total revenue for the current quarter reached SAR 861.10 million compared to SAR 702.67 million for the similar quarter last year with an increase of 22.55%.

8-Total revenue for the current period reached SAR 2,396.37 million compared to SAR 2,023.95 million for the similar period last year with an increase of 18.40%.

9-Total revenue for the current quarter reached SAR 861.10 million compared to SAR 785.86 million for the previous quarter with an increase of 9.57%.

10-The gross profit for the current quarter reached SAR 323.61 million compared to SAR 220.39 million for the similar quarter last year with an increase of 46.83%.

11-The gross profit for the current period reached SAR 897.64 million compared to SAR 602.95 million for the same period last year with an increase of 48.87%.

12-The gross profit of the current quarter reached SAR 323.61 million compared to SAR 295.87 million for the previous quarter with an increase of 9.37%

13-The operating profit for the current quarter reached SAR 92.26 million compared to operating profit of SAR 42.06 million for the similar quarter last year with an increase of 119.34%.

14-The operating profit for the current period reached SAR 228.25 million compared to operating profit of SAR 116.58 million for the similar period last year with an increase of 95.79%.

15-The operating profit of the current quarter reached SAR 92.26 million compared to operating profit of SAR 78.76 million for the previous quarter with an increase of 17.13%

16-The shareholders’ equity as of 30 September 2023 (no minority equity) was SAR 1,473.05 million compared to SAR. 1,295.15 million as of 31 December 2022 with an increase of 13.74%

17-The shareholders’ equity as of 30 September 2023 (no minority equity) was SAR 1,473.05 million compared to SAR 1,267.30 million as of 30 September 2022 with an increase of 16.24%

18-The earnings per share for the current period is SAR 1.75 compared to earnings per share of SAR 0.69 for the similar period last year.