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Yaqeen Capital Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 89,479 | 77,807 | 15 | ||
| Gross Profit (Loss) | 28,797 | 16,538 | 74.13 | ||
| Operational Profit (Loss) | 28,797 | 16,538 | 74.13 | ||
| Net profit (Loss) | 21,472 | 38,225 | -43.83 | ||
| Total Comprehensive Income | 20,057 | 36,510 | -45.06 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 278,859 | 258,802 | 7.75 | ||
| Profit (Loss) per Share | 1.43 | 2.52 | |||
| All figures are in (Thousands) 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 (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | "Revenues increased by 15% from SR 77.81 million in 2023 to SR 89.48 million in 2024, mainly attributed to the positive contribution from most services provided as follows: - Advisory services income from investment banking Department by 35%, due to the increase in the successful IPOs executed by the company during the year of 2024. - An increase in the commission on brokerage services by 28% due to the increase in the margin lending. - An increase in the management and subscription fee from mutual funds by 38%. - A decrease in the gain on investments at fair value through profit or loss by 78% due to disposal of investment in the first 6 months of 2023. - An increase in the special commission income by 218% which represents the income from murabaha placements. - An increase in the special commission income by 46% which represents the income from murabaha financing." |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The operating income increased by 74% from SR 16.54 million in 2023 to 28.80 in 2024 due to the increase in the operating revenues by 15% and the decrease in the operating expenses by 1%, which mainly due to the decrease in the General and administrative expenses. The net income decreased by 43.82% from SR 38.22 million in 2023 to SR 21.47 in 2024 due to the non-recurring transaction of selling the building owned by the company which took a place in June 2023. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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 | Certain comparative figures have been reclassified to conform with the presentation for the current year |
| 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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