Almunajem Foods Co. announces its Interim Financial (Estimated) results for the Period Ending on 2023-12-31 ( Twelve Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 829.2 | 747.8 | 10.885 | 810.9 | 2.256 |
| Gross Profit (Loss) | 156.5 | 91 | 71.978 | 134.9 | 16.011 |
| Operational Profit (Loss) | 86 | 21.8 | 294.495 | 66.3 | 29.713 |
| Net profit (Loss) | 81.6 | 16.9 | 382.84 | 61.1 | 33.551 |
| Total Comprehensive Income | 81.4 | 17.5 | 365.142 | 61.1 | 33.224 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 3,314.4 | 2,978.5 | 11.277 |
| Gross Profit (Loss) | 582.3 | 583.3 | -0.171 |
| Operational Profit (Loss) | 301.6 | 311.2 | -3.084 |
| Net profit (Loss) | 282.2 | 290.2 | -2.756 |
| Total Comprehensive Income | 282 | 290.8 | -3.026 |
| Total Share Holders Equity (After Deducting the Minority Equity) | 927.5 | 900.5 | 2.998 |
| Profit (Loss) per Share | 4.7 | 4.85 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue of 4th Quarter 2023 increased by 10.9% reaching SR 829.2 million compared to same quarter of LY. This is mainly driven by increase in sales volumes for almost all categories by 10.1% |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Increase in net profit for the 4th quarter of 2023 by 383% compared to the same quarter of the last year reaching SR 81.6 million due to the following main reasons:
- Increase in gross profit by 72% during the 4th quarter of 2023 as a result of the improvement in gross profit margins of some product categories, such as Red & White Meat and Dairy products.
- Operating expenses as % of revenue also dropped to 8.4% in 4th quarter of 2023 compared to 9% in same quarter of last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue of 4th Quarter 2023 increased by 2.3% reaching SR 829.2 million compared to previous quarter of same year. This is partly driven by increase in sales volumes in some categories such as Fruits & Vegetables, Dairy and Olives & Oil and partly by improved trade conditions in certain categories. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Increase in net profit for the 4th quarter of 2023 compared to the previous quarter of the current year by 33.5% reaching to SR 81.6 million due to the following main reasons:
- increase in gross profit by 16 % reaching SR 156.5 million, as a result of increase of margins of red & white meat and dairy categories, compared with the previous quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenues by 11.3% for the current year 2023 compared with the last year 2022 is due to the following:
- Growth in sales volumes by 16.4% in all categories. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit during the current year decreased by 2.8% to reach SR 282.2 compared to the last year due to the following main factors:
- Lower gross profit margins for some categories such as Fruits & Vegetables and Dairy products.
Despite of: - Increase in revenue by 11.3%
- Operating expenses as % of revenue dropped from 9.4% in 2022 to 8.7% in 2023. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | These estimated financial results for the year ended 31st December 2023 are prepared by the management of the Company and were not reviewed by the external auditors |
| Reclassification of Comparison Items | Some comparative figures for the previous periods have been reclassified in line with the current period's classification. |
| Additional Information | - |
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