Jamjoom Pharmaceuticals Factory Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,100.82 | 916.67 | 20.09 | ||
| Gross Profit (Loss) | 703.79 | 593.92 | 18.5 | ||
| Operational Profit (Loss) | 313.38 | 233.32 | 34.31 | ||
| Net profit (Loss) | 292.4 | 171.31 | 70.68 | ||
| Total Comprehensive Income | 258.07 | 133.41 | 93.44 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,404.33 | 1,216.26 | 15.46 | ||
| Profit (Loss) per Share | 4.18 | 2.45 | |||
| 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 | - | - | |
| 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 Company’s Revenue in the current year increased by 20.1% to reach SAR 1,100.8 million compared to SAR 916.7 million last year.
Revenues generated from sales of the Company’s products in the Saudi market increased on the back of sales volume growth, new brands and price increases. Exports were driven by revenues in the Gulf region, North Africa and Iraq that showed encouraging growth rates. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Company’s net profit in the current year increased by 70.7% to reach SAR 292.4 million compared to SAR 171.3 million last year.
This increase was mainly driven by: 1. Revenue increase of 20.1%. 2. A lower than revenue increase in Selling and Distribution (S&D) expenses (by 9.7%) vs 2022, mainly resulting from efficient S&D spending in addition to the impact of modification of commercial terms of a key distributor’s agreement in the latter part of 2022 as well as economies of scale. 3. Finance costs reduced by 96.0% vs last year as the financial charges of 2022 included a currency devaluation loss on the inter-company loan provided to the Company’s fully owned subsidiary in Egypt. In 4Q 2022, this loan was converted to a sub-ordinated perpetual equity instrument. |
| 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 | Certain comparative figures have been reclassified to conform with the classification used for the year ended 31 December 2023. |
| Additional Information | Please refer to the attached press release for detailed analysis. |
| Attached Documents |
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