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Wafrah for Industry and Development Co. announces its Annual Financial Results for the Period Ending on 31-12-2022
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 135,048,211 | 64,967,601 | 107.87 | ||
| Gross Profit (Loss) | 48,954,602 | 11,492,714 | 325.96 | ||
| Operational Profit (Loss) | 19,546,862 | -11,908,032 | - | ||
| Net Profit (Loss) after Zakat and Tax | 18,992,158 | -10,930,587 | - | ||
| Total Comprehensive Income | 19,440,108 | -9,485,169 | - | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 221,707,686 | 52,859,777 | 319.43 | ||
| Profit (Loss) per Share | 1.38 | -0.79 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The main reason for the net profit incurred in this year compared to the net losses of the previous year is attributed to the increase in sales by 107.87 %, and to the increase in the gross profit reaching 36% compared to 18 % gross profit in 2021. This is a result of the increase in average selling prices. It is also attributed to the increased valuation of assets, machinery and equipment achieved by reversal of the provision for devaluation which was made before, and also due to reversal of loan guarantee provision, despite the decrease in other revenues |
| 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 | Certain figures of the previous year amounts have been reclassified to conform to the presentation used in the current year |
| Additional Information | Earnings per share Earnings per share from main operations is calculated by dividing the net income from main operations for the year by the weighted average number of shares during the year. Earnings per share for the year is calculated by dividing the net income for the year by the weighted average number of shares during the year. Earnings (loss) per share for the year ended 31 December 2022 and 2021 were calculated by dividing the net income (loss) from main operations and net income (loss) for the year by the weighted average number of shares outstanding during the year adjusted for the potential reduction in ordinary shares. As there is no contingent liability for equity instruments, the diluted loss per share is not different from basic loss per share. The weighted average number of shares for the years ended December 31, 2022, and December 31, 2021 were reached by to comply with the requirements of IAS 33 Capital The paid-up capital of the Company is SR 231,511,050 comprising of 23,151,105 million shares, each of SR 10, as of 31 December 2021. (The Company’s capital was SR 77,170,350 comprising of 7,717,035 million shares, each of SR 10, as of 31 December 2021) Accumulated losses Accumulated losses reached SAR 9686142 which is 4.18% of the Capital which is SAR 231.511.050 |
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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