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Corrective announcement from Rasan regarding the correction of total revenue and cost of sales for the corresponding period of the previous year and their comparison with the current period
| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2026-08-10 Corresponding to 1448-02-27 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | This correction relates exclusively to the reclassification and presentation of certain amounts between revenue and cost of sales for the six-month and three-month periods ended 30 June 2025, and has no impact on the Company’s gross profit, operating profit, net profit, total comprehensive income, cash flows, equity, or financial position for any period. The impact of the 2026 reclassification will be reflected in the upcoming periods, resulting in an increase in reported revenue and cost of sales in equal amounts, with no change to gross profit or net profit. As part of completing the preparation of the interim financial statements and the external auditor’s review thereof, following the approval of the Company’s financial results announcement dated 10 August 2026, certain items were reclassified between revenue and cost of sales for the comparative periods in 2025, whereby certain amounts previously presented on a net basis are now presented on a gross basis. Accordingly, certain figures included in the previous announcement are required to be corrected as follows: • Sales/Revenue – for the six-month period ended 30 June 2025: SAR 245 million. Accordingly, the revenue growth rate for the six-month period ended 30 June 2026, compared to the corresponding period of the previous year, was stated as 111%. • Sales/Revenue – for the three-month period ended 30 June 2025: SAR 124 million. Accordingly, the revenue growth rate for the three-month period ended 30 June 2026, compared to the corresponding quarter of the previous year, was stated as 106%. |
| Correct Statement | The 2025 reclassification resulted in an increase in revenue as follows: • Sales/Revenue – for the six-month period ended 30 June 2025: SAR 285 million instead of SAR 245 million. Accordingly, the revenue growth rate for the six-month period ended 30 June 2026, compared to the corresponding period of the previous year, is 82%. It should be noted that the impact of the 2026 reclassification on the increase in revenue will be reflected in the upcoming financial statements. • Sales/Revenue – for the three-month period ended 30 June 2025: SAR 146 million instead of SAR 124 million. Accordingly, the revenue growth rate for the three-month period ended 30 June 2026, compared to the corresponding quarter of the previous year, is 75%. It should be noted that the impact of the 2026 reclassification on the increase in revenue will be reflected in the upcoming financial statements. |
| Additional Information | The reclassification resulted in equal increases in reported revenue and cost of sales of approximately SAR 40 million for the six-month period ended 30 June 2025 and approximately SAR 22 million for the three-month period ended 30 June 2025, with no change to gross profit. The impact of the 2026 reclassification will be reflected in the upcoming periods, resulting in an increase in reported revenue and cost of sales in equal amounts, with no change to gross profit or net profit. |
| Attached Documents |  |
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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Net Change 5.1 (+3.71%)
Value Traded (Sar) 70,342,486.6
Volume Traded 495,391
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