The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue: In the first quarter of 2024, the company’s total revenue grew by 7.2% or SAR 152.5 million, reaching SAR 2,257.5 million compared to SAR 2,105.0 million for the same quarter last year, driven by a strong performance in the core Pharma segment and a solid recovery in Front Shop segment led by the Beauty categories. Moreover, the Healthcare and UAE businesses continued their growth momentum, delivering 120.7% growth & 172.7%, respectively (please refer to the attached press release for detailed analysis). |
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: The company reported a net profit of SAR 232.9 million representing 10.3% of revenue in the first quarter of 2024, compared to SAR 244.3 million for the same quarter of last year, lower by 4.7% or -11.4 million, attributable to the following reasons: -Gross Profit: The company continued its investment to support the sales growth, as a result, Nahdi recorded a gross profit of SAR 860.8 million in the first quarter of 2024 compared to SAR 889.2 million for the same period of the previous year. This reflects a gross margin of 38.1% of revenue. -Operating Profit: The company’s operating expenses % of revenue improved by 1.6% reaching to 28.2% in the first quarter of 2024 compared to 29.9% for the same quarter last year, while investing in different strategic initiatives such as new openings, healthcare acceleration, UAE expansion and digitalization. Nahdi continues to reinvest the savings generated from its established efficiency programs to fund these initiatives. As a result, operating profit reached SAR 231.6 million, compared to SAR 263.2 million for the same period last year. |
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue: The company’s total revenue grew by 2% or SAR 43.2 million to reach to SAR 2,257.5 million in the first quarter of 2024 compared to SAR 2,214.3 million in the previous quarter, mainly driven by the continuous investment to support sales growth. |
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net Profit: The company’s net profit increased by 36.6% or 62.4 million, as a result of the phasing pattern in its operating expenses. |
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 | Certain comparative information has been reclassified to align with the current presentation for the period ending 31 March 2024. |
Additional Information | Other Comprehensive Income increased as a result of normal business activities which impacted the actuarial estimate for the end-of-service indemnity. |
Attached Documents | |