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International Human Resources Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 47,818,538 | 39,194,605 | 22 | ||
| Gross Profit (Loss) | 8,789,826 | 8,993,808 | -2.27 | ||
| Operational Profit (Loss) | 2,369,632 | 1,678,192 | 41.2 | ||
| Net Profit (Loss) after Zakat and Tax | 1,654,299 | 3,717,447 | -55.5 | ||
| Total Comprehensive Income | 1,654,299 | 3,717,447 | -55.5 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 41,451,809 | 39,797,510 | 4.16 | ||
| Profit (Loss) per Share | 0.03 | 0.07 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Period Compared to Previous Period is Attributed to | The reason for the decrease in net profit for the first half of the current year by 55% compared to the same period of the previous year is mainly due to: Although the company achieved revenue growth during the first half of 2023, with an increase of 22% compared to the same period last year, through the company signing a number of operational and consulting contracts with several entities during this half of the year. Despite the decrease in general and administrative expenses for the current period, with a decrease of 12.65% compared to the same period of the previous year. The increase in operating costs for the current period compared to the same period in the previous year as a result of changing some regulations and laws related to the medical insurance item. The increase in financing costs for the current period compared to the same period in the previous year as a result of the company benefiting during the previous year from the program to extend the payment scheduling related to the Corona pandemic. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | The weighted average number of shares for the period ending on June 30, 2022 has been adjusted to align with the weighted average number of new shares after its increase during the period ending on June 30, 2023 |
| Additional Information | The basic and diluted earnings per share for the current year and the previous year were calculated by dividing the net profit for the year after zakat attributable to the company's shareholders by the weighted average number of ordinary shares outstanding at the end of the current period which is 50,000,000 shares |
| Attached Documents |  |
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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