| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 161.1 | 213.39 | -24.504 | 186.49 | -13.614 |
| Gross Profit (Loss) | 44.28 | 59.94 | -26.126 | 57.95 | -23.589 |
| Operational Profit (Loss) | 25.63 | 28.88 | -11.253 | 21.62 | 18.547 |
| Net profit (Loss) | 7.27 | 7.15 | 1.678 | 6.12 | 18.79 |
| Total Comprehensive Income | 6.64 | 7.9 | -15.949 | 7.41 | -10.391 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 505.7 | 578.31 | -12.555 |
| Gross Profit (Loss) | 146.81 | 141.18 | 3.987 |
| Operational Profit (Loss) | 53.14 | 31.73 | 67.475 |
| Net profit (Loss) | 17.61 | -22.25 | - |
| Total Comprehensive Income | 17.92 | -20.72 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 221.35 | 269.45 | -17.851 |
| Profit (Loss) per Share | 0.06 | -0.07 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -96.56 | -30.65 | |
| All figures are in (Millions) 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 | Total revenues during the current quarter amounted to SAR 161.10 million compared to SAR 213.39 million during the same quarter of the previous year, a decrease of SAR 52.29 million or by -24.5%, mainly due to the decrease in the revenues of the hotel sector as a result of the decrease in occupancy rates and the temporary suspension of a hotel as a result of a fire accident, as well as the decrease in the revenues of the entertainment sector due to the presence of revenues from the construction and development of projects amounted to SAR 29.5 million during the same quarter of the previous year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit during the current quarter increased by SAR 0.12 million compared to the same quarter of the previous year, where the net profit during the current quarter reached SAR 7.27 million compared to SAR 7.15 million during the same quarter of the previous year, an increase of 1.68%, mainly due to the increase in the company's share in joint venture profits to reach SAR 3.62 million during the current quarter compared to a loss of SAR 1.83 million during the same quarter of the previous year, as well as the reversal of credit losses provisions amounting to SAR 12.44 million, as the debts associated with those provisions were collected |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Total revenues during the current quarter amounted to SAR 161.10 million compared to SAR 186.49 million during the previous quarter, a decrease of SAR 25.39 million or by -13.61%. This is mainly due to the seasonal nature of activity in the hotels and entertainment sectors, as the previous quarter coincided with the Eid Al-Fitr and Eid Al-Adha seasons compared to the current quarter, as well as the impact of the summer season on occupancy rates and the average room rate in hotels during the current quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The net profit during the current quarter increased by SAR 1.15 million by 18.79% compared to the previous quarter, as the company achieved a net profit of SAR 7.27 million compared to a net profit of SAR 6.12 million during the previous quarter, mainly due to the increase in operating profit during the current quarter by SAR 4.01 million and by 18.55% to reach SAR 25.63 million compared to SAR 21.62 million during the previous quarter as a result of the reversal of credit losses provisions of SAR 12.44 million, where debts associated with such provisions were collected. And the increase in the company's share in the results of joint ventures. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenues during the current period amounted to SAR 505.70 million compared to revenues of SAR 578.31 million during the same period of the previous year, a decrease of SAR 72.60 million and a percentage of -12.55%, mainly due to the decrease in the revenues of the hotel sector due to the company's exit from several hotels with losses, as well as the suspension of operation in one of the group's hotels as a result of damage from the fire that occurred in 2023. Also, there were revenues from the construction and development of entertainment projects for others during the same period of the previous year amounted to SAR 43.84 million |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The net profit during the current period increased by SAR 39.86 million to achieve a net profit of SAR 17.61 million during the current period compared to a net loss of SAR 22.25 million during the same period of the previous year, mainly due to: |
- Operating profit increased to SAR 53.14 million compared to SAR 31.73 million during the same period of the previous year by 67.46% mainly due to the reduction of operating expenses and depreciation expenses due to the re-estimation of the useful life of fixed assets. As well as the reversal of credit losses provisions of SAR 12.44 million, where the debts associated with those provisions were collected.
-The company also received insurance compensation for damages in one of its hotels and entertainment center during the current period amounting to SAR 24.8 million, despite the increase in financing burdens on loans to reach SAR 31.72 million during the current period compared to SAR 28.68 million during the same period of the previous year
million compared to a comprehensive loss of SAR 20.72 million for the same period of the previous year, an increase of SAR 38.64 million.
Shareholders’ equity amounted to SAR 221.35 million at the end of the current period compared to SAR 269.45 million at the end of the same period of the previous year, a decrease of SAR 48.10 million, or -17.85%.
Earnings per share amounted to 0.02 riyals for the current quarter compared to 0.02 riyals for the same quarter of the previous year, while earnings per share amounted to 0.06 riyals for the current period compared to a loss per share of -0.07 riyals for the same period of the previous year.
Accumulated losses amounted to SAR 96.56 million, representing 30.65% of the capital, compared to accumulated losses of SAR 46.87 million for the same period of the previous year.
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.