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Digital Research Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 63,054,027 | 54,291,812 | 16.14 | ||
| Gross Profit (Loss) | 21,072,128 | 19,823,881 | 6.3 | ||
| Operational Profit (Loss) | 7,934,452 | 11,943,739 | -33.57 | ||
| Net profit (Loss) | 5,929,471 | 10,532,300 | -43.7 | ||
| Total Comprehensive Income | 5,644,272 | 10,672,126 | -47.11 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 37,341,301 | 21,324,064 | 75.11 | ||
| Profit (Loss) per Share | 4.2 | 7.02 | |||
| 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 | - | - | |
| All figures are in (Actual) 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 | Revenue increased by 16.1% to reach SR 63.1 million compared to the previous year, primarily as a result of securing new projects. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Digital Research Company (DRC) achieved a net profit of SR 5.93 million for the year, decreased by SR 4.60 million (43.7%) as compared to the previous year. The decrease was mainly due to the following: - Increase in the cost of revenue by SR 7.51 million. - Decrease in operational profit by SR 4.01 million (33.57%) due to increase in general and administrative expenses by SR 4.34 million and increase in the selling and marketing expenses by SR 0.92 million. - Increase in Zakat expenses by SR 0.39 million. - Increase in finance cost by SR 0.22 million. Despite the above, there was an increase in gross profit by SR 1.25 million equivalent to 6.30%. |
| 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) | None |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform with the current year’s presentation. For more information refer to note (36) to the audited financial statements FY 2024. |
| 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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