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Anaam International Holding Group announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 12,086 | 3,218 | 275.57 | 12,524 | -3.5 |
| Gross Profit (Loss) | 6,195 | 278 | 2,128.42 | 6,247 | -0.83 |
| Operational Profit (Loss) | 980 | -6,139 | - | -9,612 | - |
| Net Profit (Loss) after Zakat and Tax | 2,347 | 3,776 | -37.84 | -40,214 | - |
| Total Comprehensive Income | 2,347 | 3,776 | -37.84 | -40,214 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 283,807 | 105,080 | 170.09 |
| Profit (Loss) per Share | 0.11 | 0.42 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 37,003 | 315,000 | 11.7 | |
| All figures are in (Thousands) 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 | The reason for the decrease in the profit during the current quarter compared to the same quarter for last year's profit is due to the low profits achieved from the net present value gain of short-term investments, and higher financing cost for the current quarter compared to the same quarter for last year's cost. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The reason for the increased in the profit during the current quarter compared to last quarter loss is due to the loss incurred in trading stock and impairment of goodwill associated with the subsidiaries for the last quarter. |
| Statement of the type of external auditor's report | Emphasis of Matter |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | Material uncertainty related to going concern: We draw attention to note 2 to the interim condensed consolidated financial statements which indicates that the Group’s accumulated losses amounted to SR 37 million as at interim period ended 31 March 2023 and; as of that date the Group’s current liabilities exceeded its current assets by SR 243.9 million. These events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. Our conclusion is not modified in respect of this matter. Emphasis of Matters
We draw attention to the following:
- As stated in note no. 4 to the accompanying interim condensed consolidated financial statements, the property, plant and equipment includes land amounting to SR 14 million for which the ownership is not yet registered in the name of the Group.
- As stated in note no. 5 to the accompanying interim condensed consolidated financial statements, the investment properties include a plot of land with a fair value of SR 16.5 million of which the ownership is not registered in the name of the Group.
Our conclusion is not modified in respect to these matters.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial information is not prepared, in all material respects, in accordance with IAS 34 that is endorsed in the Kingdom of Saudi Arabia. |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to conform to the current presentation |
| Additional Information | The gross profit has increased by 2125% compared to the previous year mainly as a result of a 276% increase in the sales. The accumulated losses till end of the period 31/03/20223 are 37 million Saudi riyals, its 11.7% of the capital, as of March 31, 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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