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CATRION Catering Holding Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 552,813 | 521,582 | 5.987 | 549,129 | 0.67 |
| Gross Profit (Loss) | 152,457 | 142,646 | 6.877 | 142,192 | 7.219 |
| Operational Profit (Loss) | 71,915 | 65,158 | 10.37 | 74,835 | -3.901 |
| Net profit (Loss) | 71,228 | 57,125 | 24.687 | 69,450 | 2.56 |
| Total Comprehensive Income | 71,228 | 57,125 | 24.687 | 74,274 | -4.101 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,267,097 | 1,136,051 | 11.535 |
| Profit (Loss) per Share | 0.87 | 0.7 | |
| All figures are in (Thousands) 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 (Thousands) 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 | During the first quarter of 2024, The Company observed a notable increase in its revenue stream. Specifically, the revenue grew by 6.0%, from SAR 521.6 million to SAR 552.8 million, as compared to the same quarter in 2023. The primary source of this increase was attributed to inflight revenue. It is worth noting that this rise in revenue positively impacted the Company's overall financial performance. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The Company has reported net profit of SAR 71.2 million after Zakat in its first quarter of 2024 whereas the Company reported a profit of SAR 57.1 million in the same quarter of 2024. The Company attributes this increase to an expansion in sales resulting from increased flight business operations. - In the first quarter of 2024, the profit per share amounted to SAR 0.87, which is an increase from SAR 0.70 reported in the same quarter of the previous year. This represents a significant increase of 24.7%. - The gross profit for the first quarter of 2024 amounted to SAR 152.5 million, which is an increase of 6.9% from SAR 142.6 million reported in the same quarter of the previous year. - Furthermore, the operational profit for the first quarter of 2024 amounted to SAR 71.9 million, which is an increase of 10.4% from SAR 65.2 million reported in the same quarter of the previous year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The Company's revenue increased by 0.7% during the first quarter of 2024, amounting to SAR 552.8 million, compared to SAR 549.1 million in the fourth quarter of 2023. The revenue growth was primarily driven by the inflight catering revenue. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Company has announced a net profit of SAR 71.2 million after Zakat for the first quarter of 2024, which is an increase of 2.6% compared to the previous quarter's profit of SAR 69.5 million. This increase in profit and income can be attributed to the expansion in sales, which is a result of the increase in flight business operations and share from the associate. - The profit per share amounted to SAR 0.87 in the first quarter of 2024, as opposed to SAR 0.85 in the prior quarter. This represents an increase of 2.6%. - The gross profit amounted to SAR 152.5 million in the first quarter of 2024, compared to SAR 142.2 million in the prior quarter, which represents an increase of 7.2%. - The operational profit amounted to SAR 71.9 million in the first quarter of 2024, compared to SAR 74.8 million in the prior quarter, resulting in a decrease of 3.9% due to seasonality. |
| 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 | None |
| 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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