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Almunajem Foods Co. announces its Interim Financial (Estimated) Results for the Period Ending on 2023-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 810.9 | 730.2 | 11.05 | 772.4 | 4.98 |
| Gross Profit (Loss) | 134.9 | 123.8 | 8.97 | 135.2 | -0.22 |
| Operational Profit (Loss) | 66.3 | 58.6 | 13.14 | 60.9 | 8.87 |
| Net Profit (Loss) after Zakat and Tax | 61.1 | 53.6 | 13.99 | 57.6 | 6.08 |
| Total Comprehensive Income | 61.1 | 53.6 | 13.99 | 57.6 | 6.08 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 2,485.2 | 2,230.7 | 11.41 |
| Gross Profit (Loss) | 425.8 | 492.3 | -13.51 |
| Operational Profit (Loss) | 215.7 | 289.4 | -25.47 |
| Net Profit (Loss) after Zakat and Tax | 200.6 | 273.3 | -26.6 |
| Total Comprehensive Income | 200.6 | 273.3 | -26.6 |
| Total Share Holders Equity (after Deducting Minority Equity) | 966.1 | 883 | 9.41 |
| Profit (Loss) per Share | 3.34 | 4.56 | |
| 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 3rd Quarter 2023 compared to same quarter of last year increased by 14% reaching to SR 61.1 million due to the following main reasons: • Increase in revenue by 11% reaching to SR 810.9M due to the increase in sales volume across almost all categories. • Increase in gross profit by 9% reaching to SR 134.9 million, due to higher sales and improvement in profit margins of Red & White Meat and Olives & Oil categories compared with the same quarter of last year. |
| 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 3rd Quarter 2023 compared to the previous quarter increased by 6.1% reaching to SR 61.1 million due to the following main reasons: • Increase in revenue by 5% reaching to SR 810.9M due to the increase in sales volume across almost all categories. • Decrease in operating expenses by 5.7% mainly due to decrease in selling and distribution expenses. Operating expenses to revenue decreased from 9.6% to 8.7% |
| 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 26.6% reaching SR 200.6 million due to the following main reasons: • Decrease in gross profit by 13.5 % as a result of the decrease in profit margins of most of product categories due to the change in the trading conditions 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 2.1 % reaching SR 218.7 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 9.6% to 8.8%. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | These estimated financial results for the period ended 30 September 2023 are prepared by the management of the Company and were not reviewed by the external auditors |
| 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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