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National Environmental Recycling Co. announces its Annual Financial results for the period ending on 2023-12-31
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1445/09/18 28/03/2024 16:47:46
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 631,908,928 | 402,450,017 | 57.02 | ||
| Gross Profit (Loss) | 38,940,103 | 30,885,322 | 26.08 | ||
| Operational Profit (Loss) | 28,615,760 | 23,404,077 | 22.27 | ||
| Net profit (Loss) | 23,818,079 | 18,117,037 | 31.47 | ||
| Total Comprehensive Income | 23,851,497 | 18,159,645 | 31.34 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 199,943,910 | 156,473,289 | 27.78 | ||
| Profit (Loss) per Share | 0.43 | 0.34 | |||
| 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 | The increase in sales is primarily attributable to increase in the quantity sold during 2023 along with the effective product mix sold to local and export customers. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net profit is primarily due to 57% annual growth in sales, as well as a reversal of provisions taken for inventory that was previously identified as obsolete, which can now be sold. |
| 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 | Some comparative numbers have been reclassified to conform with the presentation of the financial statements for the current year, which essentially represent Non-continuous operations, No. (26) |
| Additional Information | Earnings per share was calculated on the number of company shares, amounting to 58,080,000 shares, after the Resolution of the Extraordinary General Assembly, held on April 5, 2023 AD to divide the nominal value from ten riyals to one. |
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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