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Naqi Water Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )

2282
NAQI
1.05 %
1446/05/05     07/11/2024 15:46:40

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 61,001,72967,692,147-9.88356,030,6098.872
Gross Profit (Loss) 22,356,72027,006,042-17.21519,766,85113.102
Operational Profit (Loss) 9,611,15715,744,659-38.9567,006,97137.165
Net profit (Loss) 10,085,37916,190,984-37.70911,023,944-8.513
Total Comprehensive Income 10,000,28016,515,291-39.44811,010,628-9.176
All figures are in (Actual) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 174,737,421190,713,611-8.377
Gross Profit (Loss) 61,607,34573,354,663-16.014
Operational Profit (Loss) 24,112,42040,026,362-39.758
Net profit (Loss) 28,846,17340,586,076-28.925
Total Comprehensive Income 29,010,88341,260,948-29.689
Total Shareholders Equity (after Deducting Minority Equity) 272,142,635253,131,7527.51
Profit (Loss) per Share 1.442.03
All figures are in (Actual) Saudi Arabia, Riyals


Element ListAmountPercentage 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 ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is In the current quarter, the company reported a 9.8% decrease in overall sales, primarily due to reduced wholesale sector sales , thats becouse, the company rediredted its strategic to be focus on retail expansion, which included the acquisition of branches in the Hail and Eastern Regions, along with the consumer sales agency in Riyadh. As a result of these efforts, retail sales increased by 8.8%, complemented by a 5.6% increase in logistics and transportation services.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Net profit decrease reason is due to sales decreased and expenses incresed cused by financial impact of entring into the poultry sector, and costs related to excuite its branch expansion strategy.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The company achieved 9% increase in revenue in the current quarter compared to the previous quarter of this year. This growth reason due to increase in retail sales table egg sector sales , and logistic transportation revenue.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is Despite an increase in operating profit in the current quarter compared to the previous quarter, net profit decreased by 8.5%. This decline was primarily due to several non-operational factors, including reduced the capital gains from asset sales , as well as previously disclosed sale of the Riyadh factory land and the decrease in Time deposit revenue.
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 company’s revenue for the current period decreased by 8.3% primarily due to a decline in wholesale sales. , in same time company focused on retail expansion strategy which cause an 33% growth in retails sector.
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 decreased in the current period compared to the same period last year, impacted by several key factors. The most significant was the company’s strategic entry into the table egg production sector as part of company aims to revenue diversification , Additionally increased selling and distribution expenses related to branch expansion, a decrease in other revenue streams, and formed provision for doubtful receivables further contributed to the decrease in net profit.
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) not applicable
Reclassification of Comparison Items Certain comparative figures have been reclassified to align with the current period’s financial statement presentation. Transportation revenue services have been reclassified under core activity revenues, rather than other income, with a corresponding adjustment to the cost of sales to accurately match these revenues with their associated costs.
Additional Information -

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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Last Price 58.0
Net Change 0.6 (+1.05%)
Value Traded (Sar) 1,366,982.7
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