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Modern Mills for Food Products Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )

2284
MODERN MILLS
-0.97 %
1445/11/01     09/05/2024 08:02:28

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 257,806,270252,245,6812.204247,505,3844.161
Gross Profit (Loss) 99,120,455102,404,301-3.20690,415,9379.627
Operational Profit (Loss) 76,829,62776,665,9720.21363,749,74320.517
Net profit (Loss) 64,983,43264,110,4761.36151,123,31027.111
Total Comprehensive Income 64,983,43264,110,4761.36151,261,34126.768
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (After Deducting the Minority Equity) 280,389,352247,650,15213.219
Profit (Loss) per Share 0.790.78
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListPercentage of the capital (%)Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
Accumulated Losses --
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is Net revenue increased by SAR 5.6 million (representing 2.2%) from SAR 252.2 million same quarter last year reaching SAR 257.8 million in the current quarter, the increase is mainly driven by Revenue and launch of new sub-categories.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Net profit increased by SAR 0.87 million (representing 1.4%) from SAR 64.1 million same quarter last year reaching SAR 64.98 million in the current quarter, this is mainly driven by:

- Revenue growth, and

- Improving efficiency

The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is Net revenue increased by SAR 10.3 million (representing 4.2%) from SAR 247.5 million last quarter reaching SAR 257.8 million in the current quarter, the increase is mainly driven by Revenue and early planning for Ramadan season
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is Net profit increased by SAR 13.86 million (representing 27.1%) from SAR 51.1 million last quarter reaching SAR 64.98 million in the current quarter, the increase is mainly driven by:

- Revenue growth, and

- Expenses rationalization & improving 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) None
Reclassification of Comparison Items Some items, elements and notes of the comparatives in the Consolidated Financial Statements have been reclassified for the comparison purpose and to meet with the applied accounting policies for the year, which have been prepared according to the International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia.
Additional Information -

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Key Parameters
Last Price 51.0
Net Change -0.5 (-0.97%)
Value Traded (Sar) 20,898,516.2
Volume Traded 409,123
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