Munawla Cargo Co. announces its Annual Financial results for the period ending on 2023-12-31

23 April 2024 07:49 AM

Element List	Current Year	Previous Year	%Change
Sales/Revenue	117,420,514	138,907,442	-15.47
Gross Profit (Loss)	22,410,450	24,768,322	-9.52
Operational Profit (Loss)	6,137,781	10,094,590	-39.2
Net profit (Loss)	4,951,487	9,658,023	-48.73
Total Comprehensive Income	5,255,063	9,954,025	-47.21
Total Share Holders Equity (After Deducting the Minority Equity)	35,204,509	32,949,446	6.84
Profit (Loss) per Share	4.95	9.66
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 decrease in revenues for the current year 2023 compared to the previous year 2022 is due to the impact of transportation activity during the first half of the year as a result of replacing an old transportation fleet, which was replaced by a new transportation fleet in line with the requirements of the General Transport Authority, which led to a delay in operation.
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 for the year 2023 compared to the previous year, 2022, is due to the increase in financing costs.
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	Some comparative figures for the similar period of the previous year have been reclassified to be consistent with the current period’s classification
Additional Information	-

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