View United Real Estate Development Co. announces its Annual Financial results for the period ending on 31-12-2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 90,716,784 | 87,615,510 | 3.54 | ||
| Gross Profit (Loss) | 25,875,362 | 19,505,358 | 32.66 | ||
| Operational Profit (Loss) | 19,226,101 | 13,256,043 | 45.04 | ||
| Net profit (Loss) | 18,215,860 | 17,013,336 | 7.07 | ||
| Total Comprehensive Income | 18,544,282 | 16,503,530 | 12.37 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 66,037,018 | 21,786,812 | 203.1 | ||
| Profit (Loss) per Share | 5.72 | 5.67 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) 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 for the increase in revenues is the improvement in the operational performance of the company’s main activity represented by the growth of off-plan sales revenues and the growth resulting from investment in developed real estate. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the increase in net profit is the improvement in the operational performance of the company’s main activity represented by the growth of off-plan sales revenues and the growth resulting from investment in developed real estate. |
| 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) | do not apply |
| Reclassification of Comparison Items | 1. Reclassifying investments listed at fair value through profits and losses from current assets to non-current assets
2. Reclassification of profits from the sale of developed properties into development profits for others |
| Additional Information | 1- Decrease in the cost of revenues due to the decrease in direct costs on projects
2. Increase in general and administrative expenses as a result of the increase in professional fees due to the expenses of qualifying the company’s offering in the parallel market (Nomu) 3. Basic and diluted earnings per share were calculated by dividing the net profit attributable to shareholders by the weighted average. The number of common shares outstanding during the year |
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