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Alamar Foods Co. announces its Interim Financial results for the Period Ending on 30-06-2024 ( Six Months )
6014
ALAMAR
-3.04
%
1446/02/02 06/08/2024 08:07:26
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 226,449,709 | 252,664,230 | -10.375 | 206,853,460 | 9.473 |
| Gross Profit (Loss) | 68,844,681 | 78,211,394 | -11.976 | 50,649,622 | 35.923 |
| Operational Profit (Loss) | 18,857,301 | 23,463,280 | -19.63 | -12,156,302 | - |
| Net profit (Loss) | 12,888,599 | 17,215,509 | -25.133 | -17,708,066 | - |
| Total Comprehensive Income | 12,089,527 | 17,747,184 | -31.879 | -29,027,481 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 433,303,169 | 502,410,730 | -13.755 |
| Gross Profit (Loss) | 119,494,303 | 148,176,406 | -19.356 |
| Operational Profit (Loss) | 6,700,999 | 42,847,082 | -84.36 |
| Net profit (Loss) | -4,819,467 | 31,076,283 | - |
| Total Comprehensive Income | -16,937,954 | 26,928,785 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 284,479,828 | 326,807,274 | -12.951 |
| Profit (Loss) per Share | -0.14 | 1.26 | |
| 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 | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Sales decreased primarily driven by the impact from the ongoing geopolitical situation in the region, and the impact from the currency devaluation in Egypt. |
| 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 decreased due to sales performance being impacted by the ongoing geopolitical situation in the region, and the impact from the currency devaluation in Egypt. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Sales registered a growth of +9.5% primarily driven by the relative recovery in some of the region's markets, supported by the positive effect from marketing initiatives and continued service improvement, in addition to fewer Ramadan days compared to the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit increased primarily driven by sales growth, supported by the positive impact from the operational efficiency improvement resulting from management's actions aimed at creating a more agile cost structure and better balance between variable and fixed costs, with continued focus on operational excellence and service improvement. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Sales decreased primarily driven by the impact from the ongoing geopolitical situation in the region, and the impact from the currency devaluation in Egypt. |
| 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 due to sales performance being impacted by the ongoing geopolitical situation in the region and the impact from the currency devaluation in Egypt, in addition to the non-recurring costs recorded in the first quarter of 2024 amounting to SAR 11 million. |
| 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 | Not applicable |
| Additional Information | Alamar maintains a robust balance sheet with a strong net cash position, supported by net cash generation from operating activities amounting to SAR 45 million in the first half of 2024. Over the last twelve months, Alamar opened 20 new corporate stores on a net basis with its corporate store count reaching 525 stores as of end of June 2024. |
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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