| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 32,997,048 | 15,147,496 | 117.84 | 34,561,599 | -4.53 |
| Gross Profit (Loss) | 12,901,773 | 3,243,923 | 297.72 | 13,141,143 | -1.82 |
| Operational Profit (Loss) | 6,258,923 | -2,770,442 | - | 7,123,942 | -12.14 |
| Net Profit (Loss) after Zakat and Tax | 5,023,464 | -2,587,757 | - | 6,152,496 | -18.35 |
| Total Comprehensive Income | 4,850,525 | -2,551,905 | - | 6,133,516 | -20.92 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 67,558,647 | 36,717,925 | 83.99 |
| Gross Profit (Loss) | 26,042,916 | 9,344,771 | 178.69 |
| Operational Profit (Loss) | 13,382,865 | -2,270,869 | - |
| Net Profit (Loss) after Zakat and Tax | 11,175,960 | -2,786,345 | - |
| Total Comprehensive Income | 10,984,041 | -2,694,604 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 63,843,818 | 59,650,342 | 7.03 |
| Profit (Loss) per Share | 1.45 | -0.36 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 12,569,441 | 77,170,350 | 16.29 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| 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 reason for the net profit incurred in the current quarter compared to the net losses of the corresponding quarter of the previous year is attributed to the increase in sales by 117.83 %, and to the increase in average selling prices, and to the decrease in unit cost of sales that resulted from increase in production volume and efficiency, despite the increase in provision for expected credit |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The main reason for the decrease in net profit incurred in the current quarter compared to the previous quarter is attributed to the decrease in sales by 4.53 %, and to the increase in the General and Administrative expenses and the increase in provision for expected credit |
| 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 reason for the net profit incurred in the first period compared to net losses in the corresponding period of the previous year is attributed to the increase in sales by 83.99 %, and to the increase in average selling price, and to the decrease in cost of sales that resulted from increase in production volume and reduction in unit cost, despite the increase in the General and Administrative expenses, and the increase in selling and marketing expenses and the increase in provision for expected credit |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | We would like to draw attention to Note No. (2. e) about the attached interim condensed financial statements, which indicates that the company has achieved accumulated losses amounting to 12,569,441 Saudi riyals as on June 30, 2022, and the company’s current liabilities exceeded its current assets by 12,365,433 Saudi riyals in that The date, and these circumstances indicate the existence of a material uncertainty, may cast significant doubt on the Company's ability to continue as a going concern, and our conclusion has not been modified in this respect. |
| Reclassification of Comparison Items | The comparative figures for the previous period ended 30 June 2021 have been modified to correspond with the figures of the current period. |
| Additional Information | . |
Earnings per share
The weighted average number of shares was reached by taking the effect of the capital decrease from the beginning of the earliest period offered to comply with the requirements of IAS 33.
Capital Increase
On 22 May 2021, the Company’s Board of Directors issued a recommendation to increase the Company’s Capital through right issue amounting to SAR 154,340,700 and the Company appointed an issuer, a legal advisor and a financial advisor to manage the increase.
On 4 April 2022 the CMA has approved the capital increase request through right issue of SR 154,340,700.
On 14 June 2022 (Corresponding to 15 Dhu al-Qi'dah 1443 H ), the extraordinary general assembly has approved the BOD recommendation to increase the capital of 200% through right issue based on 2 rights per each owned share, and thus the number of shares after increase will be 23,151,105 shares amounting to SR 231,511,050 subsequent to issue 15,434,070 shares of SR 10 per share with total of SR 154,340,700. The Capital increase is to expanding the company’s operations, upgrading production lines and properly utilise the brands to cover the kingdom territories.
On 17 July 2022, the subscription was fully completed with total new shares of 12,009,112 shares pertains to old shareholders (77.81 %) and 3,434,958 shares pertains to new shareholders (22,19%)
On 9 August 2022, the company’s share Capital was amended and new CR was issued with new Capital of SR 231,511,050.
On 10 August 2022, the capital increases proceeds were received and deposited in company’s bank account by the underwriter.
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.