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Arabian Plastic Industrial Co. (APICO) announces its Annual Financial Results for the period ending on 31-12-2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 156,647,002 | 154,570,760 | 1.34 | ||
| Gross Profit (Loss) | 28,038,062 | 21,337,351 | 31.4 | ||
| Operational Profit (Loss) | 16,444,637 | 12,088,190 | 36.04 | ||
| Net profit (Loss) | 13,030,774 | 9,301,832 | 40.09 | ||
| Total Comprehensive Income | 13,399,329 | 9,301,832 | 44.05 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 95,989,036 | 82,589,707 | 16.22 | ||
| Profit (Loss) per Share | 2.68 | 1.86 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Arabian Plastics Industry Company (APICO) achieved net revenues of 156 million Saudi riyals in fiscal year 2023, with increase of 1.34% compared to the previous year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Arabian Plastic Industrial Company (APICO) has achieved net profit of SR 13.03 million in FY 2023, representing an increase of 40.09% compared to previous year mainly because: (a) The company achieved a decrease in production costs, including a decrease in raw material prices and operating costs, which led to an increase in Gross profit compared to the previous year by 31.40%. (b) Company experienced increase in sales expenses, Admin expenses and finance cost of 23 % compared to the previous year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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 | N/A |
| Additional Information | N/A |
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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