Saudi Company for Hardware announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 930.12 | 1,136.54 | -18.16 | ||
| Gross Profit (Loss) | 104.09 | 67.62 | 53.93 | ||
| Operational Profit (Loss) | -48.5 | -107.75 | -54.99 | ||
| Net profit (Loss) | -68.97 | -142.5 | -51.6 | ||
| Total Comprehensive Income | -69.51 | -142.42 | -51.19 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 343.75 | 413.77 | -16.92 | ||
| Profit (Loss) per Share | -1.92 | -3.96 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -40.87 | -11.35 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The reason behind having lower sales during this year compared to the previous year is due to the stagnation in the retail market in general, and due to selling a significant portion of the old inventory at clearance prices, in addition to delays in the arrival of newly sourced products. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the decrease in loss during the current year compared to the previous year is due to the improvement in gross profit by SAR 36.5 million resulting from the enhancement in the commercial terms and operational efficiency, in addition to the decrease of impairment loss on non-financial assets by SAR 21.6 million.
The drop in administrative and general expenses, selling and marketing expenses, financing charges, and Zakat charges also contributed to the decrease in the loss during the current year compared to the previous year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | None |
| Reclassification of Comparison Items | Comparative period figures have been reclassified to conform with current period classification numbers. |
| Additional Information | - |
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