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Tam Development Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 188,403,128 | 147,073,483 | 28.1 | ||
| Gross Profit (Loss) | 89,762,028 | 54,824,409 | 63.73 | ||
| Operational Profit (Loss) | 44,138,521 | 30,051,048 | 46.88 | ||
| Net profit (Loss) | 40,601,961 | 27,927,936 | 45.38 | ||
| Total Comprehensive Income | 40,692,754 | 28,395,630 | 43.31 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 109,759,126 | 71,621,024 | 53.25 | ||
| Profit (Loss) per Share | 12.33 | 7.8 | |||
| 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 revenues during the current year compared to last year is mainly due to an increase in the company's activity and sales. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | "Net profit increased by 45.4%, reaching 40,601,961 Saudi riyals in the fiscal year 2023, compared to 27,927,936 Saudi riyals in the fiscal year 2022. This increase in net profit was driven mainly by the following: - Higher revenue, which grew by 28.1% reaching 188,403,128 Saudi riyals in fiscal year 2023 compared to 147,073,483 Saudi riyals in fiscal year 2022. - Gross profit increased by 63.7% reaching 89,762,028 Saudi riyals in fiscal year 2023, resulting in a gross profit margin of 47.6%, an increase compared to the 37.3% achieved in fiscal year 2022. - Operating profits increased by 46.9% reaching 44,138,521 Saudi riyals, compared to 30,051,048 Saudi riyals in fiscal year 2022." |
| 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 | Certain figures of comparatives have been reclassified to conform to the presentation of the current year's financial statements. |
| 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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