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Almunajem Foods Co. announces its Interim Financial (Estimated) results for the Period Ending on 2023-12-31 ( Twelve Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 829.2 | 747.8 | 10.885 | 810.9 | 2.256 |
| Gross Profit (Loss) | 156.5 | 91 | 71.978 | 134.9 | 16.011 |
| Operational Profit (Loss) | 86 | 21.8 | 294.495 | 66.3 | 29.713 |
| Net profit (Loss) | 81.6 | 16.9 | 382.84 | 61.1 | 33.551 |
| Total Comprehensive Income | 81.4 | 17.5 | 365.142 | 61.1 | 33.224 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 3,314.4 | 2,978.5 | 11.277 |
| Gross Profit (Loss) | 582.3 | 583.3 | -0.171 |
| Operational Profit (Loss) | 301.6 | 311.2 | -3.084 |
| Net profit (Loss) | 282.2 | 290.2 | -2.756 |
| Total Comprehensive Income | 282 | 290.8 | -3.026 |
| Total Share Holders Equity (After Deducting the Minority Equity) | 927.5 | 900.5 | 2.998 |
| Profit (Loss) per Share | 4.7 | 4.85 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| 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 of 4th Quarter 2023 increased by 10.9% reaching SR 829.2 million compared to same quarter of LY. This is mainly driven by increase in sales volumes for almost all categories by 10.1% |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Increase in net profit for the 4th quarter of 2023 by 383% compared to the same quarter of the last year reaching SR 81.6 million due to the following main reasons: - Increase in gross profit by 72% during the 4th quarter of 2023 as a result of the improvement in gross profit margins of some product categories, such as Red & White Meat and Dairy products. - Operating expenses as % of revenue also dropped to 8.4% in 4th quarter of 2023 compared to 9% in same quarter of last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue of 4th Quarter 2023 increased by 2.3% reaching SR 829.2 million compared to previous quarter of same year. This is partly driven by increase in sales volumes in some categories such as Fruits & Vegetables, Dairy and Olives & Oil and partly by improved trade conditions in certain categories. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Increase in net profit for the 4th quarter of 2023 compared to the previous quarter of the current year by 33.5% reaching to SR 81.6 million due to the following main reasons: - increase in gross profit by 16 % reaching SR 156.5 million, as a result of increase of margins of red & white meat and dairy categories, compared with the previous quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenues by 11.3% for the current year 2023 compared with the last year 2022 is due to the following: - Growth in sales volumes by 16.4% in all categories. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit during the current year decreased by 2.8% to reach SR 282.2 compared to the last year due to the following main factors: - Lower gross profit margins for some categories such as Fruits & Vegetables and Dairy products. Despite of: - Increase in revenue by 11.3% - Operating expenses as % of revenue dropped from 9.4% in 2022 to 8.7% in 2023. |
| 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) | These estimated financial results for the year ended 31st December 2023 are prepared by the management of the Company and were not reviewed by the external auditors |
| Reclassification of Comparison Items | Some comparative figures for the previous periods have been reclassified in line with the current period's classification. |
| 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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Value Traded (Sar) 31,329,927.2
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