IssuerAnnouncementDetailsV2Portlet
Almunajem Foods Co. announces its Interim Financial results for the Period Ending on 2024-06-30 (Six Months)
Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
---|---|---|---|---|---|
Sales/Revenue | 826.3 | 772.4 | 6.978 | 902.9 | -8.483 |
Gross Profit (Loss) | 133.1 | 135.2 | -1.553 | 195.8 | -32.022 |
Operational Profit (Loss) | 63.8 | 60.9 | 4.761 | 117.8 | -45.84 |
Net profit (Loss) | 63.8 | 57.6 | 10.763 | 114 | -44.035 |
Total Comprehensive Income | 63.8 | 57.6 | 10.763 | 114 | -44.035 |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|---|---|---|
Sales/Revenue | 1,729.2 | 1,674.4 | 3.272 |
Gross Profit (Loss) | 328.9 | 290.9 | 13.062 |
Operational Profit (Loss) | 181.6 | 149.4 | 21.552 |
Net profit (Loss) | 177.8 | 139.4 | 27.546 |
Total Comprehensive Income | 177.8 | 139.4 | 27.546 |
Total Shareholders Equity (after Deducting Minority Equity) | 1,030.4 | 980 | 5.142 |
Profit (Loss) per Share | 2.96 | 2.32 | |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Amount | Percentage of the capital (%) | |
---|---|---|---|
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
All figures are in (Millions) 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 of the 2nd Quarter 2024 increased by 7% reaching SR 826.3 million compared to same quarter of LY. This is mainly driven by slight increase in sales volume across most of the categories except for Red & White Meat supported by improved trade conditions compared to same quarter of last year. |
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 2nd quarter of 2024 by 10.9% compared to the same quarter of the last year reaching SR 63.8 million due to the following main reasons: - Slight decrease in operating expenses of around 0.5% driven by decrease in selling and distribution expenses. - In addition to above, the Company recorded its share of the results of associate (Balady Poultry Trading Company) amounting to SR 5.3 million during the 2nd Quarter 2024 vs. Nill in the similar quarter last year 2023 |
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue of 2ND Quarter 2024 decreased by 8.5% reaching SR 826.3 million compared to 1ST Quarter 2024. This is driven by a decrease in overall sales volumes across most categories due to seasonal consumption patterns. |
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Decrease in net profit for the 2nd Quarter of 2024 compared to the 1st Quarter 2024 by 44% reaching to SR 63.8 million due to the following main reasons: - Decrease in gross profit by 32% reaching SR 62.2 million, as a result of decrease in sales volumes in certain categories due seasonal consumption patterns and lower gross profit margins across most of categories, mainly Red & White Meat due to changing sales mix and some price pressures. |
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenues by 3.3% for the current period of 2024 compared with the similar period of last year 2023 is due to the following: - Increase in sales volume in most of categories except for Red & White Meat supported by improved trade conditions. |
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit during the current period of 2024 increased by 27.5% to reach SR 177.8 compared to the similar period last year due to the following main factors: - Increase in gross profit margins by 13% driven by improved gross profit margins for Red & White Meat and Dairy categories. Despite of: - Slight increase in operating expenses by 3% during the current period of 2024 compared with the similar period of last year 2023 as a result of increase in selling and marketing expenses, however operating expenses as a percentage of revenue dropped from 8.9% to 8.8%. |
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 | N/A |
Additional Information | - |
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