- Increase in the quantity and value of cement sales and the quantity of precast sales.

- Increase in the quantity and value of cement sales and the quantity of precast sales..

- Decrease in losses from the share in the results of an associate company.

- Decrease in other expenses.

- Realized gains from the sale of investments at fair value through profit or loss.

- Decrease in zakat expenses.

Other matter:

The consolidated financial statements of the group for the year ended December 31, 2023, were audited by another auditor who expressed an unmodified opinion on those statements on March 16, 2024. As part of our audit of the 2024 consolidated financial statements, we also audited the adjustments described in Note 39 that were applied to amend the 2023 consolidated financial statements. In our opinion, such adjustments are appropriate and have been properly applied. We were not engaged to audit, review, or apply any procedures to the 2023 consolidated financial statements of the group other than with respect to the adjustments and, accordingly, we do not express an opinion or any other form of assurance on the 2023 consolidated financial statements taken as a whole.

During the current year, the group identified several errors as outlined below, which have been corrected in accordance with the requirements of IAS 8 – Accounting Policies, Changes in Accounting Estimates, and Errors, as adopted in the Kingdom of Saudi Arabia. The correction of these errors resulted in retrospective adjustments to the comparative figures as of December 31, 2023, and January 1, 2023.

In previous years, the Group classified investments in Discretionary Portfolio Management as investments at fair value through other comprehensive income. However, after assessing the nature of these investments and their compliance with the requirements of International Financial Reporting Standard 9 "Financial Instruments" and International Accounting Standard 32 "Financial Instruments: Presentation", it was determined that they do not meet the criteria for classification as investments at fair value through other comprehensive income. Accordingly, the Group amended the classification of these investments to be presented as investments at fair value through profit or loss (FVTPL). In addition, the Group adjusted the previously recognized revaluation gains recorded under other comprehensive income to be presented within profit or loss. Accordingly, the Group decided to adjust the comparative figures for the years 2023 and 2022.

The Group reviewed its revenue recognition policy for contracts with customers in the precast concrete segment. This review included an assessment of compliance with the requirements of IFRS 15 “Revenue from Contracts with Customers”. As a result, it was determined that revenue measurement had been incorrectly applied, particularly in relation to identifying performance obligations and allocating the transaction price to each performance obligation. Accordingly, the Group recalculated revenue by properly identifying performance obligations and allocating the transaction price to each obligation accurately. As a result, the Group recognized contract assets and contract liabilities arising from this adjustment. Based on this, the Group decided to adjust the comparative figures for the years 2023 and 2022.

As a result of the revenue adjustment, the group also adjusted the cost of goods sold and inventory, in addition to modifying the deferred contract costs related to the contracts for which revenue was recalculated. Accordingly, the group decided to adjust the comparative figures for the years 2023 and 2022.