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Knowledge Net Co. announces its Interim Financial results for the period ending on 2024-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 28,928,816 | 25,107,895 | 15.218 | ||
| Net profit (Loss) | -1,858,881 | -4,688,422 | -60.351 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 38,965,089 | 41,038,900 | -5.053 | ||
| Profit (Loss) per Share | -0.16 | -1.17 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | An increase in revenues for the first half of 2024 by 15%, followed by the income of the parent company by 52%, as a result of an increase in license sales by 130% compared to the first half of 2023. |
| 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 total profit for the first half period of the current year amounted to 10,145,482 Saudi riyals, compared to 4,607,160 for the comparison period, an increase of 120%, which reflects the efficiency of resource management and operational processes of the company, which in turn supports the company’s expansion strategy. Increasing selling and marketing expenses in line with increased sales and supporting the company’s strategy for expansion and growth. The results of the half-year of fiscal year 2024 indicate a decrease in losses related to the company’s shareholders before minority rights, amounting to (543,602) Saudi riyals, compared to a loss of (4,030,833) Saudi riyals for the comparison period, which demonstrates the improvement in the company’s performance as a result of the growth in revenues and the increase in the profit margin, which reflected positively on me. Earnings per share increased by 631% compared to the same period last year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Yes |
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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