Nayifat Finance Co. announces its Annual Financial Results for the Period Ending on 31 December 2022
|Element List||Current Year||Previous Year||%Change|
|Gross Profit (Loss)||364,049||371,276||-1.95|
|Operational Profit (Loss)||191,154||250,588||-23.72|
|Net Profit (Loss) after Zakat and Tax||171,457||225,088||-23.83|
|Total Comprehensive Income||171,457||225,088||-23.83|
|Total Share Holders Equity (after Deducting Minority Equity)||1,288,700||1,192,243||8.09|
|Profit (Loss) per Share||1.71||2.25|
|All figures are in (Thousands) Saudi Arabia, Riyals|
|The reason of the increase (decrease) in the net profit during the current year compared to the last year is||1- Increase in provisioning charge due to enhancement in the |
provision model as per IFRS 9.
2- Increase in 3 months SIBOR from Dec 2021 (0.91%) to Dec 2022 (5.4%) resulting in
increase in the financing cost.
3-Increase in other general and administrative expenses due to increase in marketing expenses, listing expenses and other general expenses.
4- Increase in depreciation and amortization due to increase in enhancement of cyber security and related expenses.
|Statement of the type of external auditor's report||Unmodified opinion|
|Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion||N/A|
|Reclassification of Comparison Items||N/A|
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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