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Al Majed Oud Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 926,002,004 | 772,457,166 | 19.88 | ||
| Gross Profit (Loss) | 609,695,505 | 512,867,292 | 18.88 | ||
| Operational Profit (Loss) | 178,512,654 | 163,686,338 | 9.06 | ||
| Net profit (Loss) | 156,958,529 | 148,677,253 | 5.57 | ||
| Total Comprehensive Income | 156,362,897 | 149,003,888 | 4.94 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 468,188,472 | 377,260,776 | 24.1 | ||
| Profit (Loss) per Share | 6.28 | 5.95 | |||
| 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 | The increase in sales this year compared to the previous year is due to the geographic expansion, opening new stores, along with the increased spending on marketing campaigns, launch new products , and increases on e-commerce business. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net profits this year compared to the previous year is due to increase in sales through the geographic expansion, opening new stores, launch new products, and increase on e-commerce business. |
| 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 | The company management adjusted the comparative figures to reflect the impact of the dividends approved by the Board of Directors on December 28, 2023, amounting to 50,000,000 Saudi Riyals, which were paid on April 1, 2024 (Note 31): Balance Sheet : Previously reported Adjustment Restated Due from Related Parties 4,209,915 (1,941,618) 2,268,297 Retained Earnings (134,058,427) 50,000,000 (84,058,427) Due to Related Parties - (48,058,382) (48,058,382)
Reclassification of comparative figures: Previously reported Adjustment Reclassified Sales 767,023,097 5,434,069 772,457,166 Cost of Sales (256,383,577) (3,206,297) (259,589,874) Selling & Marketing Expense (311,077,902) 1,863,892 (309,214,010) Other income 9,566,285 (4,091,664) 5,474,621 |
| 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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