Mayar Holding Co. announces its Interim Financial results for the period ending on 2024-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 205 | 187.4 | 9.391 | ||
| Net profit (Loss) | 1.75 | -13.4 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 26.7 | 46.4 | -42.456 | ||
| Profit (Loss) per Share | 0.05 | -0.11 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | 3.56 | 5.6 | |
| Accumulated Losses | 9.28 | 15.46 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The reason for the increase in sales/revenues during the current period
: compared to the same period of the previous year is due to The increase in revenues by 9.4% is due to the increase in sales of the company’s various sectors during the 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 | The reason of the Increase in the net profit during the current Period compared to the same Period of the last year is:
The increase in revenues by 9.4% is due to the increase in sales of the company’s various sectors during the period. Increase of Gross Profit Margin from 9.4% in Six Months of 2023 to 15.7% during current Period of 2024. The Reversal of Expected credit loss (ECL) provision during the period, which resulted from the collection of old receivables from customers. The company achieved a net profit of 1.75 million riyals during the current period, compared to a net loss of 13.4 million during the same period of the previous year, despite: The increase in Financing Charges is due to the increase in the cost of lending, which increased during the current period compared to the same period in 2023. Impact of currency exchange losses amounting to 6.8 million riyals during the period due to currency fluctuation of the local currency “the Egyptian pound” for one of the companies operating in the Arab Republic of Egypt. Increase of of Selling and distribution expenses due to Increase of Sales Volume. Increase in General and Administrative expenses due to Establishment costs of one of the subsidiary companies. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the presentation for the current period. |
| Additional Information | "Accumulated losses decreased from 28.88 million riyals, or 48.13% of the Capital as of 31/12/2023, To 9.28 million riyals, or 15.46% of the capital, as of 30/06/2024.
In the fourth quarter of 2023, the nominal value of the company's share was split from ten riyals per share to fifty halalas per share, while keeping the company's capital unchanged. According to the requirements of IAS No. (33), the weighted average number of shares was retrospectively adjusted for the comparative period presented.""" |
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