| 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 current quarter's sales increased by 7% compared to the same quarter of the previous year, driven by a 31% rise in the wood sector's sales and a 4% increase in the logistics sector. Sales in other sectors also rose by 253%, despite a 21% decline in the iron sector's sales. |
| 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 achieved a net profit during the current quarter compared to a net loss in the same quarter of the previous year. This improvement is attributed to a 7% increase in sales, higher other income, a decrease in the cost of revenue, a 20% reduction in selling and marketing expenses, and a 6% decrease in finance costs. This was despite a 22% increase in general and administrative expenses, the recognition of expected credit losses, a 25% increase in zakat provisions, and a 79% decline in investment income. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is |
Sales for the current quarter increased by 2% compared to the previous quarter, driven by a 30% rise in the wood sector's sales. This growth occurred despite a 1% decrease in the iron sector's sales, a 19% decline in the logistics sector, and a 36% drop in other sectors. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is |
Net profit for the current quarter decreased by 96% compared to the previous quarter, mainly due to a 19% increase in the cost of sales, a 214% rise in expected credit loss provisions, a 120% increase in zakat provisions, a 66% drop in investment income, and a 37% decline in other income. This occurred despite a 2% increase in sales, a 6% decrease in selling and marketing expenses, a 21% reduction in general and administrative expenses, and a 40% decrease in finance costs. |
| 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) |
Nothing |
| Reclassification of Comparison Items |
Certain comparative figures have been re-presented and classified to conform to the presentation for the current period. |
| Additional Information |
The basic and diluted earnings (loss) per share for the current quarter and the corresponding quarter of the previous year were calculated by dividing the net profit or loss after Zakat attributable to the company’s shareholders by the weighted average number of outstanding ordinary shares at the end of each quarter. The weighted average number of shares for the current quarter was 175,000,000, and the number of shares for the corresponding quarter of the previous year was also 175,000,000. Accordingly, the earnings per share for the current quarter amounted to 0.001, while the (loss) per share for the corresponding quarter of the previous year was -0.009. However, the earnings (loss) per share appears as stated above in the announcement figures due to limitations in decimal precision. |
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