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Al Mawarid Manpower 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 | 374.6 | 293.87 | 27.471 | 341.68 | 9.634 |
| Gross Profit (Loss) | 42.66 | 34.93 | 22.129 | 38.93 | 9.581 |
| Operational Profit (Loss) | 29.13 | 24.52 | 18.8 | 24.26 | 20.074 |
| Net profit (Loss) | 26.41 | 22.16 | 19.178 | 21.23 | 24.399 |
| Total Comprehensive Income | 25.94 | 21.02 | 23.406 | 21.51 | 20.595 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 354.83 | 314.09 | 12.97 |
| Profit (Loss) per Share | 1.76 | 1.48 | |
| 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 | • Increase in the group’s revenues for the first quarter of the current year compared to the corresponding quarter of the previous year by SAR 80.73 million representing 27%, which is mainly due to an increase in average number of workforces for the first quarter of the current year compared to the corresponding quarter of the previous year by 28%. |
| 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 increase in net profit for the first quarter of the current year compared to corresponding quarter of the previous year by SAR 4,26 million represent 19%, is mainly due to: • Increase in gross profit for the first quarter of the current year compared to the corresponding quarter of the previous year by SAR 7.73 million represent 22%, which is mainly due to the increase in the group’s revenues for the first quarter of the current year compared to the corresponding quarter of the previous year, as explained above. • Increase in general, administrative and marketing expenses for the first quarter of the current year compared to the corresponding quarter of the previous year by SAR 1.27 million representing 12%, mainly due to the increase in the number of the workforce and certain expenses associated with listing the company on Tadawul. • Increase in the provision for expected credit losses from trade receivables for the first quarter of the current year compared to the corresponding quarter of the previous year by SAR 2.61 million, according to the expected credit loss model, and it also included certain specified and doubtful receivables. • Increase in other income for the first quarter of the current year compared to corresponding quarter of the previous year by SAR 1.17 million which is mainly due to gains in investments in financial instruments at fair value through profit or loss and certain other miscellaneous income items. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | • Increase in the group’s revenues during the first quarter of the current year compared to the fourth quarter of the previous year by SAR 32.93 million representing 10%, which is mainly due to the increase in the average number of workforces for the first quarter of the current year compared to the fourth quarter of the previous year. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The net profit for the first quarter of the current year compared to the fourth quarter of the previous year increased by SAR 5,18 million represent 24%, is mainly due to: • Increase in gross profit for the first quarter of the current year compared to the fourth quarter of the previous year by SAR 3.73 million representing 10%, which is mainly due to an increase in revenues during the first quarter of the current year compared to the fourth quarter of the previous year, as explained above. • Decrease in general, administrative and marketing expenses for the first quarter of the current year compared to the fourth quarter of the previous year by SAR 0.47 million. • Increase in other income for the first quarter of the current year compared to the fourth quarter of the previous year by SAR 0.56 million which is mainly due to gains in investments in financial instruments at fair value through profit or loss and certain other miscellaneous income items. |
| 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 | Certain comparative figures have been reclassified to conform with the classification used for the three-month period ended 31 March 2024, which is. - Reclassifying the financing cost into the cost of revenues and general and administrative expenses as a financing cost in the statement of profit or loss. - Reclassifying the settlement of employee benefits from other revenues to cost of revenues. |
| Additional Information | NONE. |
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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Last Price 142.4
Net Change 0.8 (+0.56%)
Value Traded (Sar) 2,924,473
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