Correction announcement from Al Gassim Investment Holding Co. in regards to ( Al Gassim Investment Holding Co. announces its Interim Financial results for the Period Ending on 2025-06-30 ( Six Months ))
| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2025-08-10 Corresponding to 1447-02-16 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | The decrease in revenue during the current period compared to the same period of the previous year is due to a decline in finance income from lease contracts by their nature, in addition to the absence of rental income from the palm orchard, unlike the same quarter of the previous year.
-The decrease in net loss for the current period compared to the same period of the previous year is attributable to an increase in other income, a decrease in zakat expense and expected credit loss provisions, as well as increase in dividend income from financial assets at fair value through profit or loss. This comes despite the recognition of losses from the disposal of assets held for sale (which are not present in the current period), a decline in operating income, and an increase in general and administrative expenses. |
| Correct Statement | The decrease in revenue during the current period compared to the same period of the previous year is due to a decline in finance income from lease contracts by their nature, in addition to the absence of rental income from the palm orchard, unlike the same period of the previous year.
-The decrease in net loss for the current period compared to the same period of the previous year is attributable to an increase in other income, a decrease in zakat expense and expected credit loss provisions, as well as increase in dividend income from financial assets at fair value through profit or loss. This comes despite the recognition of losses from the disposal of assets held for sale (Not present during the corresponding period ), a decline in operating income, and an increase in general and administrative expenses |
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