IssuerAnnouncementDetailsV2Portlet
Nofoth Food Products 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 | 155,621,374 | 135,722,913 | 14.66 | ||
Gross Profit (Loss) | 91,468,734 | 72,280,566 | 26.55 | ||
Operational Profit (Loss) | 23,422,828 | 15,397,160 | 52.12 | ||
Net Profit (Loss) after Zakat and Tax | 22,051,456 | 15,371,165 | 43.46 | ||
Total Comprehensive Income | 22,051,456 | 15,371,165 | 43.46 | ||
Total Share Holders Equity (after Deducting Minority Equity) | 85,668,546 | 52,862,523 | 62.06 | ||
Profit (Loss) per Share | 0.92 | 0.64 | |||
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 company’s revenues increased to reach 155,621,374 riyals compared to 135,722,913 riyals for the previous period, with an increase of 19,898,461 riyals and an increase of 14.66% the main reason being increase in the number of branches and the expansion that the company has done during the previous period. Increasing the Gross profit of the company to reach 91,468,734 riyals compared to 72,280,566 riyals for the previous period, with an increase of 19,188,168 riyals and an increase of 26.55% the main reason being review of production cost, re-negotiating with company suppliers in addition to the automation of operations in the factories and its standardization, moreover, granting franchise rights to some regions in the Kingdom. Increasing the net profit of the company after zakat and tax to 22,051,456 riyals compared to 15,371,165 riyals for the previous period, with an increase of 6,680,291 riyals and an increase of 43.46% the main reason being the increase in the number of branches and the expansion that company has done in addition to the reduction of production cost and optimum usage of the company’s resources. |
Statement of the type of external auditor's report | Unmodified conclusion |
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
Reclassification of Comparison Items | None |
Additional Information | As a result of splitting the nominal value of the share from SAR 10 per share to SAR 1 per share during the six-month period ending on June 30, 2023, the number of shares increased from 2.4 million shares to 24 million shares, so the earnings per share were calculated for the six-month period ending on June 30, 2023 and 2022 retrospectively by adjusting the weighted average number of outstanding shares to reflect the effect of the share split from 2.4 million shares to 24 million shares. Earnings per share: The basic earnings per share are calculated by dividing the net profit for the period by the weighted average number of shares outstanding as at the end of the period. as the basic earnings per share of the net profit for the period was 0.92 riyals compared to 0.64 riyals in the similar period from last year. The total equity of shareholders at the end of the period 30/06/2023 AD amounted to (85,668,546) riyals compared to (52,862,523) riyals for the Period ending on 30/06/2022 AD, an increase of 32,806,023 riyals and an increase of 62.06% |
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