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Perfect Presentation for Commercial Services Co. announces its Interim Financial results for the Period Ending on 2024-03-31( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 219,491,123 | 225,083,427 | -2.484 | 387,906,987 | -43.416 |
| Gross Profit (Loss) | 54,790,187 | 43,828,778 | 25.009 | 61,237,373 | -10.528 |
| Operational Profit (Loss) | 42,047,021 | 35,671,939 | 17.871 | 59,139,783 | -28.902 |
| Net profit (Loss) | 29,681,019 | 28,584,717 | 3.835 | 41,213,251 | -27.981 |
| Total Comprehensive Income | 28,952,488 | 27,584,198 | 4.96 | 40,566,609 | -28.629 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 410,976,307 | 281,183,709 | 46.159 |
| Profit (Loss) per Share | 0.2 | 0.19 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue: Decreased 2.8% to SAR 219 million, compared to SAR 225 million in some projects before finished before starting 2024. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Perfect Presentation for Commercial Services Co. (2P) reported increase by 4.9% in net profit, reaching SAR 29 million in 1Q24, compared to SAR 28 million in 1Q23, which is primarily due to: Revenue: Decreased 2.8% to SAR 219 million, compared to SAR 225 million in some projects before finished before starting 2024. Gross Profit: Increased by 25% to reach SAR 54 million, essentially due to the start operating new projects specially in Customer experience and managed service portfolios. This translated to a Gross Profit Margin of 24.96%, compared to 19.47% in 1Q23. Operating Profit: Increased 17% to SAR 42 million in 1Q24, thus outpacing the marginal rise in selling, general, and administrative expenses. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue: Decreased from SAR 387 million in 4Q23 to SAR 219 million in 1Q 2024. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | 2P recorded a decline in net profit to SAR 29 million in 1Q24, from SAR 41 million in 4Q23, due to seasonality factors that are in line with the normal operations of the Company. The reasons for the change in net profit are as follows: Revenue: Decreased from SAR 387 million in 4Q23 to SAR 219 million in 1Q24. Gross Profit: Declined 11% from SAR 61 million in 4Q23 to SAR 54 million in 1Q23 Operating Profit: Decreased 29% from SAR 59 million in 4Q23, to SAR 42 million in 1Q24. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Management amended the comparison figures to reflect the restatements and reclassification in Q1 2023 financial statements, as below 1-the management spent on researches and development of some programs and systems in order to be used or sold through SWD products, this was recorded as cost & expenses, as per IAS 38-Intangabil assets, Q1 2023 financial statements restated to recognize this expense as intangible assets 2- Finance cost in the COGS, S&D reclassified to Cost of Financing in the P&L |
| Additional Information | N/A |
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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