Bawan Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 883,871 | 892,451 | -0.961 | 859,275 | 2.862 |
| Gross Profit (Loss) | 92,064 | 95,442 | -3.539 | 107,178 | -14.101 |
| Operational Profit (Loss) | 40,876 | 47,692 | -14.291 | 45,780 | -10.712 |
| Net profit (Loss) | 29,152 | 34,532 | -15.579 | 36,368 | -19.841 |
| Total Comprehensive Income | 29,152 | 34,532 | -15.579 | 34,767 | -16.15 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 898,080 | 859,021 | 4.546 |
| Profit (Loss) per Share | 0.49 | 0.58 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Despite the increase in revenue of the electrical and plastic industries sectors and revenue of the metal products, the decrease in average selling prices in the metal and wood industries sector negatively affected the company’s revenues, decreasing slightly by 1% compared to the same quarter of the previous year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is mainly due to the following:
- The decrease in net profit of the metal products, mainly due to the decrease in average selling prices which led to a decrease in the profit margin. - The decrease in net profit of the electrical industries sector, mainly due to the decrease in quantities sold. - The increase in the operational and Zakat expenses, and the decrease in the profit of investment in financial assets at fair value through profit or loss.
This decrease comes despite the following:
- The increase in quantities sold of the metal and wood and plastic industries sectors. - The decrease in the finance cost by 21% due to the decrease in the company's total debt. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the increase in the group's revenues is mainly due to the increase in revenues from the electrical and plastic industries sectors, affected by the increase in quantities sold, which led to an increase in revenues by 2.9% compared to the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The main reasons for the decrease in net profit during the current quarter compared to the previous quarter is due to the following:
- The decrease in net profit of the metal and wood industries sector, mainly due to the decrease in quantities sold of metal products, and the decrease in average selling prices of wood products, which led to a decrease in the profit margin. - The decrease in the net profit of the plastic industries sector, mainly due to the decrease in average selling prices, which led to a decrease in the profit margin. - The decrease in other income, and the profit of investment in financial assets at fair value through profit or loss.
This decrease comes despite the following:
- The increase in net profit of the electrical industries sector, as the sector achieved a net profit of SAR 20.3 million during the current quarter compared to profit of SAR 8.3 million for the previous quarter, mainly due to the increase in quantities sold, which led to the improvement in profit margin. - The decrease in the operational and Zakat expenses. - The decrease in the finance cost by 14% due to the decrease in the company's total debt. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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 | N/A |
| Additional Information | Non-controlling interests share during the current quarter amounted to a net profit of SAR 3.2 million as compared to a profit of SAR 3.2 million for the same quarter of the previous year. |
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