Miahona Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 70.24 | 84.55 | -16.924 | 81.6 | -13.921 |
| Gross Profit (Loss) | 19.13 | 32.34 | -40.847 | 28.68 | -33.298 |
| Operational Profit (Loss) | 9.04 | 20.07 | -54.957 | 23.1 | -60.865 |
| Net profit (Loss) | 8.1 | 16.99 | -52.324 | 19.98 | -59.459 |
| Total Comprehensive Income | 13.31 | 18.14 | -26.626 | 19.02 | -30.021 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 151.84 | 149.61 | 1.49 |
| Gross Profit (Loss) | 47.81 | 50.65 | -5.607 |
| Operational Profit (Loss) | 32.14 | 30.6 | 5.032 |
| Net profit (Loss) | 28.08 | 25.08 | 11.961 |
| Total Comprehensive Income | 32.33 | 25.29 | 27.837 |
| Total Shareholders Equity (after Deducting Minority Equity) | 422.88 | 392.85 | 7.644 |
| Profit (Loss) per Share | 0.17 | 0.16 | |
| All figures are in (Millions) 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 (Millions) 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 revenue drop by 16.9% was primarily due to:
• Financial close for a concession contract was achieved in the same quarter last year, while financial close for a further project in the current year was attained in Q1 2024. • A short-term operations and maintenance contract was converted to long-term concession contracts (accounting treatment), with a corresponding increase in finance income reflected under GP. • Further, the same quarter last year witnessed increase in construction revenue for one of the projects (No major impact on bottom-line). |
| 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 company's net profit drop by SAR 8.9 million in the current period due to:
• Financial close for a concession contract was achieved in the same quarter last year, while additional financial close for a project in the current year was attained in Q1 2024. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The revenues dropped 13.9% due to attaining additional revenue from financial close for a project in Q1 2024. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The company's net profit drop by SAR 11.8 million in the current period due to attaining additional revenue from financial close for a project in Q1 2024. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Miahona’ s revenues for the current period have increased by 1.49% compared to previous period.
This change in revenue mainly due to achieving financial close for larger project in the period, leading to additional revenue recognition in current period. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit increased by 11.96% to SAR 28.08 million, driven by higher revenue with improved efficiency. |
| 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 | - |
| Attached Documents |  |
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