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Abdullah Al Othaim Markets Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 10,203.78 | 9,549.55 | 6.85 | ||
| Gross Profit (Loss) | 2,271.5 | 2,085.62 | 8.91 | ||
| Operational Profit (Loss) | 460.31 | 411.13 | 11.96 | ||
| Net profit (Loss) | 490.77 | 1,079.51 | -54.54 | ||
| Total Comprehensive Income | 468.7 | 1,073.85 | -56.35 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,358.4 | 1,407.2 | -3.47 | ||
| Profit (Loss) per Share | 0.55 | 1.2 | |||
| All figures are in (Millions) 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 (Millions) 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 | Sales growth by 6.85% from existing and new stores opened during the year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Sales growth and improvement in profit margin and marketing lease activity, in addition to gains of investing the surplus cash in Islamic sharia compliant deposits as well as the recovery of impairment provision related to the subsidiary in Egypt by SR 4.1 million, despite the increase in expenses related to the new stores, mainly, finance cost of lease contracts with the sum of SR 25.7 million and the decline in the performance of the associate companies by SR 10.7 million. On the other hand, the results of the first quarter of 2022 include the Company share in the profits of Abdullah Al-Othaim Investment Company, with the sum of SR 9.3 million, then the Company derecognized profits after the Board of Directors’ decision to sell this investment. During the current period the Company had realized non-recurring capital gains with the sum of SR 96.9 million, net of zakat, from the sale of investment land in Riyadh city, compared to non-recurring capital gains with a sum of SR 701.2 million, net of zakat, last year. When eliminating the non-recurring capital gains, the growth in the Company net profits would be 4.1%. |
| 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) | Not Applicable |
| Reclassification of Comparison Items | Some comparative figures have been restated to be consistent with the presentation of the current year. |
| Additional Information | During the current year, the Company opened (57) fifty seven stores and shut down (4) four stores, compared to opening (36) thirty six during the last year. Earnings per share have been restated for all presented periods based on the amended number of shares of the capital amounting to 900 million shares after splitting the share into ten shares and reducing the par value of the share to one riyal pursuant to the general assembly resolution in its extraordinary meeting held on 5 June 2023. |
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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Key Parameters
Last Price 6.1
Net Change 0.03 (+0.49%)
Value Traded (Sar) 10,633,402.21
Volume Traded 1,748,318
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