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Almunajem Foods Co. announces its annual Financial Results for the Period Ending on 2022-12-31 ( Twelve Months )

4162
ALMUNAJEM
-1.79 %
1444/09/01     23/03/2023 16:40:50

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 747.8679.510.05730.22.41
Gross Profit (Loss) 92.6115.3-19.69125-25.92
Operational Profit (Loss) 20.850.5-58.8158.7-64.56
Net Profit (Loss) after Zakat and Tax 16.946-63.2653.6-68.47
Total Comprehensive Income 17.544.2-60.4153.6-67.35
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 2,978.52,57715.58
Gross Profit (Loss) 588.1441.433.23
Operational Profit (Loss) 311.2184.568.67
Net Profit (Loss) after Zakat and Tax 290.2166.174.71
Total Comprehensive Income 290.8164.376.99
Total Share Holders Equity (after Deducting Minority Equity) 900.5804.711.9
Profit (Loss) per Share 4.843.1
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Decrease in net profit for the 4th quarter compared to the same quarter of the last year by 63.2% reaching to SR 16.9 million due to the following main reasons:

- Decrease in gross profit by 19.7% reaching to SR 92.6 million, because of decease in profit margins of red & white meat categories, comparing with the same quarter of the last year

- Increase in total operating expenses by 3.8% reaching to SR 68.8 million because of the increase in employees cost, marketing and logistic expenses.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is Decrease in net profit for the 4th

quarter compared to the previous quarter of the current year by 68.5% reaching to SR 16.9 million due to the following main reasons:

- Decrease in gross profit by 25.9 % reaching to SR 92.6 million, because of the decease in profit margins of red & white meat categories, comparing with the previous quarter

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is Increase in net profit for the year compared to the last year by 74.7% reaching SR 290.2 million due to the following main reasons:

- Increase in revenues by 15.6% reaching to SR 2,978.5 million due to the improvement in trade conditions during the first three quarters of the year,

- Increase in gross profit by 33.2% because of improved profit margins in almost all categories due to the improvement in trade conditions during the period.

Despite of:

- Increase in operating expenses during the year by 9% reaching to SR 286 million comparing with last year as a result of higher spending on marketing & promotional activities, in additions to the increase in employees cost and logistic expenses. As a percentage of revenue operating expenses decreased from 10.2% last year to 9.6% in the current year.

- Increase in Zakat expense to 29.8% reaching to SR 19 million as result of the increase in Zakat base.

Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items Some comparative figures for the previous periods have been reclassified in line with the current period's classification.

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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Key Parameters
Last Price 109.8
Net Change -2.0 (-1.79%)
Value Traded (Sar) 50,163,734
Volume Traded 458,056
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