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Nayifat Finance Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 396,960 | 392,333 | 1.18 | ||
| Gross Profit (Loss) | 346,640 | 364,341 | -4.86 | ||
| Operational Profit (Loss) | 106,614 | 191,154 | -44.23 | ||
| Net profit (Loss) | 88,714 | 171,457 | -48.26 | ||
| Total Comprehensive Income | 88,214 | 171,457 | -48.55 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,376,914 | 1,288,700 | 6.84 | ||
| Profit (Loss) per Share | 0.74 | 1.43 | |||
| All figures are in (Thousands) 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 (Thousands) 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 | increase in revenues is mainly attributable to increase in loan portfolio during the current year |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for decline in net profit from last year is due to increase in finance cost and impairment charge. Finance cost from borrowing has increased mainly because of rise in SAIBOR during the year. Increase in impairment charge expense is mainly attributable to higher NPLs in unsecured portfolios consequently impacting higher provision charge. |
| 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) | the auditors have not expressed adverse, disclaimer of opinion |
| Reclassification of Comparison Items | NA |
| 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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