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Almunajem Foods Company. announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 730.2 | 655 | 11.48 | 712.5 | 2.48 |
| Gross Profit (Loss) | 125 | 119.6 | 4.51 | 197.2 | -36.61 |
| Operational Profit (Loss) | 58.7 | 57.5 | 2.09 | 128.5 | -54.32 |
| Net Profit (Loss) after Zakat and Tax | 53.6 | 52.7 | 1.71 | 122.1 | -56.1 |
| Total Comprehensive Income | 53.6 | 52.7 | 1.71 | 122.1 | -56.1 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 2,230.7 | 1,897.5 | 17.56 |
| Gross Profit (Loss) | 495.4 | 326 | 51.96 |
| Operational Profit (Loss) | 290.4 | 134 | 116.72 |
| Net Profit (Loss) after Zakat and Tax | 273.3 | 120.1 | 127.56 |
| Total Comprehensive Income | 273.3 | 120.1 | 127.56 |
| Total Share Holders Equity (after Deducting Minority Equity) | 883 | 760.6 | 16.09 |
| Profit (Loss) per Share | 4.56 | 2 | |
| All figures are in (Millions) 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 | Increase in net profit for the quarter compared to the same quarter of the last year by 1.8% reaching SR 53.6 million due to the following main reasons: - Increase in revenues by 16% to SR 730.2 million. -Increase in gross profit by 4.5 % as a result of the improvement in profit margin of some product categories, Dairy, Fruit& vegetables and olives. Despite of: - increase in operating expenses during the quarter by 8.7 % reaching to SR 69.7 million comparing with the last quarter as a result of higher employees cost and expected credit loss provision. - Increase in Zakat expense to 16.7% reaching to SR 4.6 million as result of the increase in Zakat base. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Decrease in net profit for the quarter compared to the previous period of the current year by 56.1% reaching to SR 53.6 million due to the following main reasons: - Decrease in gross profit by 36.6 % reaching to SR 125 million, as a result of deceasing in profit margins of Red & white meat categories, comparing with the previous quarter. Despite of: - Decrease in total operating expenses by 7.5% reaching to SR 69.7 million as a result of decreasing employee cost by 8.7% reaching SR 33.3 million and marketing expenses by 14.9% reaching SR 8 million. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Increase in net profit for the quarter compared to the same quarter of the last year by 127.5% reaching SR 273.3 million due to the following main reasons: - Increase in revenues by 17.5 % to SR 2230.7 million. - Increase in gross profit by 52 % as a result of the improvement in profit margin of product categories due to improvement in trade conditions during the period. Despite of: - increase in operating expenses during the quarter by 10.7 % reaching to SR 217.3 million comparing with similar period last year as a result of higher marketing & promotional activities and employee cost. - Increase in Zakat expense to 40% reaching to SR 16 million as result of the increase in Zakat base. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Some comparative figures for the previous periods have been reclassified in line with the current period's classification. |
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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