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Saudi Marketing Company ( Farm Superstores ) announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )

4006
FARM SUPERSTORES
-0.40 %
1445/04/24     08/11/2023 15:35:54

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 429,257430,477-0.28449,221-4.44
Gross Profit (Loss) 138,639129,5717134,2443.27
Operational Profit (Loss) 21,87518,67217.1522,800-4.06
Net Profit (Loss) after Zakat and Tax 4,8864,5218.076,388-23.51
Total Comprehensive Income 4,8364,4947.616,438-24.88
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 1,358,4151,321,6762.78
Gross Profit (Loss) 409,770378,8238.17
Operational Profit (Loss) 68,94455,46924.29
Net Profit (Loss) after Zakat and Tax 18,72016,07516.45
Total Comprehensive Income 18,75415,93817.67
Total Share Holders Equity (after Deducting Minority Equity) 655,173650,8930.66
Profit (Loss) per Share 0.420.36
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListExplanation
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 of increase in the net profit during the current quarter compared to the same quarter of the previous year is as follows:

- Increase in the revenue of the entertainment segment for the current quarter compared to the same quarter of previous year by SR 5.9 million, in addition to the better control on cost of revenues of farm superstores branches which resulted in an increase in the gross profit of the current quarter compared to the same quarter of previous year by SR 9.1 million. Although, minor decrease in total revenues for the current quarter compared to the same quarter of previous year by SR 1.2 million. Knowing that total operating expenses for the current quarter compared to the same quarter of the previous year, have been increased by SR 5.6 million.

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 of decrease in the net profit during the current quarter compared to the previous quarter is as follows:

- Decrease in revenues for the current quarter compared to the previous quarter amounting to SR 20 million due to summer vacations in the current quarter, however gross profit has been increased by SR 4.4 million for the current quarter compared to the previous quarter due to increase in revenue collected from suppliers for the rented spaces provided to them in branches and improved contracts and targets obtained from suppliers.

- Increase in the total operating expenses for the current quarter compared to the previous quarter by SR 6.3 million.

- The net of non-operating costs and expenses charged to the profits of the current quarter amounted to SR 17 million compared to SR 16.4 million, which represents the net non-operating costs and expenses charged to the profits of the previous quarter.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason of increase in the net profit during the current period compared to the same period of the previous year is as follows:

- Increase in the revenues of the current period compared to the same period of the previous year by SR 36.7 million due to the increase in the retail revenue of farm superstores in the current period compared to the same period of the previous year, in addition to the increase in the revenue of the entertainment segment for the current period compared to the same period of the previous year. Knowing that total operating expenses for the current period, compared to the same period of the previous year, have been increased by SR 16.9 million.

Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to the current period presentation.
Additional Information - The net of non-operating costs and expenses charged to the profits of the current quarter amounted to SR 17 million compared to SR 14.2 million, which represents the net non-operating costs and expenses charged to the profits of the same quarter of the previous year.

- The net of non-operating costs and expenses charged to the profits of the current period amounted to SR 50.2 million compared to SR 39.4 million, which represents the net non-operating costs and expenses charged to the profits of the same period of the previous year.

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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FARM SUPERSTORES
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Last Price 17.57
Net Change -0.07 (-0.4%)
Value Traded (Sar) 136,052.59
Volume Traded 7,771
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