AlSaif Stores for Development and Investment 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 | 270,011,738 | 229,419,731 | 17.693 | 192,731,153 | 40.097 |
| Gross Profit (Loss) | 74,493,028 | 77,540,886 | -3.93 | 53,274,636 | 39.828 |
| Operational Profit (Loss) | 30,221,226 | 47,453,014 | -36.313 | 10,956,073 | 175.839 |
| Net profit (Loss) | 31,219,173 | 50,544,618 | -38.234 | 17,092,163 | 82.651 |
| Total Comprehensive Income | 31,219,173 | 50,544,618 | -38.234 | 15,352,160 | 103.353 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 433,771,875 | 426,650,587 | 1.669 |
| Profit (Loss) per Share | 0.09 | 0.14 | |
| All figures are in (Actual) 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 (Actual) 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 | The reason for the increase in sales by 18% is due to:
1) Increase in sales of seasonal items for the preparations of the blessed month of Ramadan. 2) Increasing the number of the company's branches within the Kingdom and in the GCC countries. 3) Increase sales through e-commerce platforms. 4) Increase sales of projects. |
| 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 is due to:
1) Although sales increased by 18%, there was a relative decrease in profitability margin by 3.9%, primarily due to seasonal promotions to increase market share and raise the average value of invoices. 2) Increase sales and marketing expenses. 3) Decrease in other income. 4) Increase financing interest expenses to increase the value of bank facilities. 5) Increase in right-of-use depreciation expense and financial lease interest due to increased branches. 6) A relative increase in the cost of goods sold due to the increase in global shipping prices during the first quarter, and the company did not transfer this increase in costs to customers for the purpose of maintaining prices and increasing market share |
| 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 sales by 40% is due to:
1) Increase in sales of seasonal items for the preparations of the blessed month of Ramadan. 2) Increase sales through e-commerce platforms. 3) Increase sales of projects. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the increase is mainly due to the increase in sales by 40%. |
| 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 | N/A |
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