Jazan Development and Investment Co. announces its Annual Financial results for the period ending on 31-12-2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 84,331,249 | 77,893,693 | 8.26 | ||
| Gross Profit (Loss) | 22,267,473 | 15,791,379 | 41.01 | ||
| Operational Profit (Loss) | -1,102,725 | -18,965,609 | -94.19 | ||
| Net profit (Loss) | 1,759,734 | 10,711,721 | -83.57 | ||
| Total Comprehensive Income | -5,598,953 | 6,756,352 | - | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 507,871,910 | 513,232,319 | -1.04 | ||
| Profit (Loss) per Share | 0.04 | 0.21 | |||
| 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 | - | - | |
| 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 sales during this year compared to the previous year is that in 2022, the company focused on frozen shrimp, targeting exports. Due to global events, the company faced difficulties in exporting to strategic markets. In 2023, the company changed its sales strategy by focusing on fresh shrimp and targeting the local market by providing larger quantities of fresh shrimp.
Due to the above mentioned, sales during this year increased by 8% compared to the previous year. |
| 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 net profit during this year compared to the previous year is the profit achieved from the sale of a fixed asset (land in the Khabat Al-Falaq area, Jazan), which led to a net profit of 31 million Saudi riyals in the previous year.
Due to the above mentioned, net profit during this year decreased by 84% 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) | N/A |
| Reclassification of Comparison Items | Certain figures for the comparative year have been reclassified to conform with the current period's presentation. |
| Additional Information | - |
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