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Almunajem Foods Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 772.4 | 712.5 | 8.41 | 902 | -14.37 |
| Gross Profit (Loss) | 135.2 | 196 | -31.02 | 155.7 | -13.17 |
| Operational Profit (Loss) | 60.9 | 127.7 | -52.31 | 88.5 | -31.19 |
| Net Profit (Loss) after Zakat and Tax | 57.6 | 122.1 | -52.83 | 81.9 | -29.67 |
| Total Comprehensive Income | 57.6 | 122.1 | -52.83 | 81.9 | -29.67 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,674.4 | 1,500.5 | 11.59 |
| Gross Profit (Loss) | 290.9 | 368.5 | -21.06 |
| Operational Profit (Loss) | 149.4 | 230.8 | -35.27 |
| Net Profit (Loss) after Zakat and Tax | 139.4 | 219.7 | -36.55 |
| Total Comprehensive Income | 139.4 | 219.7 | -36.55 |
| Total Share Holders Equity (after Deducting Minority Equity) | 980 | 904.4 | 8.36 |
| Profit (Loss) per Share | 2.32 | 3.66 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit of 2nd Quarter 2023 compared to same quarter of last year decreased by 52.9% reaching to SR 57.6 million due to the following main reasons: • Decrease in gross profit by 31% reaching to SR 135.2 million, due to the decrease in profit margins of red & white meat, frozen fruits & vegetables and dairy categories compared with the same quarter of the last year.
Despite of: - The increase in revenue by 8.4% reached SR 772 million and increase in sales volume. - Operating expenses decreased as percentage of revenue from 10.4% (Q2 2022) to 9.6% (Q2 2023). |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net profit of 2nd Quarter 2023 compared to the previous quarter decreased by 29.7% reaching to SR 57.6 million due to the following main reasons: • Decrease in revenue by 14.4% reaching to SR 772M due to the decrease in sales volume across almost categories due to coincidence of the previous quarter with the Ramadan season. • Decrease in gross profit by 13.2% reaching to SR 135.2 million, due decrease in sales and change in sales mix compared to 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 | Decrease in net profit for the period compared to the same period of the last year by 36.5% reaching SR 139.4 million due to the following main reasons: . • Decrease in gross profit by 21 % as a result of the decrease in profit margin of most of product categories despite of increase in sales volume in all categories during the period compared to the same period of last year. • increase in operating expenses during the period by 2 % reaching SR 148.5 million compared with similar period last year as a result of higher sales volume being generated. However, operating expenses as a percentage of revenue decreased from 9.7% to 8.9%. |
| 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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