| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The company's revenues continued to grow during the current quarter compared to the same quarter of the previous year, with revenues reaching SAR 1,603.4 million compared to SAR 1,452.2 million, an increase of 10.4%. This growth is attributed to revenues generated from National Day promotions and the Back-to-School season, where the retail sector of the company witnessed an increase in sales volume, supported by a 20.8% growth in online sales during this quarter compared to the same quarter last year. Additionally, the company's consumer finance sector witnessed a 22.3% increase in income during the current quarter compared to the same quarter of the previous year, driven by a 25% growth in the consumer finance portfolio compared to the same quarter last 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 company achieved a net profit of SAR 156.3 million compared to SAR 118.3 million for the same quarter of the previous year, due to the growth in the company's revenues. This had an impact on the total gross profit, which grew by 16.8%, reaching SAR 390.2 million for the current quarter compared to SAR 334.2 million for the same quarter of the previous year. Additionally, the gross profit margin in the retail sector increased by 0.7% compared to the same quarter last year due to an improved sales mix, which in turn led to a net profit growth of 32.2%, despite the increase in selling, distribution, and general and administrative expenses to support the expansion of the company's operations. It is worth noting that the net profit for the current quarter included the reversal of provisions for potential obligations that were no longer needed, related to the retail sector, amounting to SAR 16.3 million. When excluding the financial impact of these provisions, the adjusted net profit growth would be 18.3%. Moreover, United International Holding Company (the parent company of United Company for Financial Services – Tasheel) achieved a net profit of SAR 59 million in the third quarter of the current year, compared to SAR 53.1 million for the same quarter of the previous year, marking an 11.1% growth. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The company recorded a decline in revenues during this quarter compared to the previous quarter, due to changes in the seasonality of sales. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | During this quarter, the company recorded a net profit of SAR 156.3 million, compared to SAR 106.6 million in the previous quarter. This growth in net profit is attributed to the improvement in the gross profit margin and the reversal of provisions for potential obligations that were no longer needed related to the retail sector amounting to SAR 16.3 million, which had a positive impact on the company's net profit. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The company's revenues increased by 10% during the current period compared to the same period last year, reaching SAR 5,106.1 million compared to SAR 4,641 million for the same period last year. This growth is attributed to the increase in retail sector sales due to stable demand in the Saudi market, in addition to the growth in consumer finance income. |
| 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 increase in the company's revenues, accompanied by the improvement in gross profit during the current period, had a positive impact on the company's net profit, despite the increase in selling & distribution expenses, as well as higher financing costs for the current period compared to the same period last year. The gross profit for the current period increased by 13.9% compared to the same period last year, recording a net profit of SAR 356.8 million compared to SAR 264.4 million for the same period last year, representing a growth rate of 35%. Excluding the non-recurring losses due to the company's decision to halt expansion plans in Egypt during the same period last year and the reversal of provisions for potential obligations related to the retail sector amounting to SAR 16.3 million during the current period, the adjusted net profit growth rate would be 12.6%. It is noteworthy that the net profit of United International Holding Company (the parent company of United company for Financial Services - Tasheel) amounted to SAR 158 million during the current period, compared to SAR 157 million for the same period last year. |
| 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) | None |
| Reclassification of Comparison Items | None |
| Additional Information | The company uses the cost model option for measuring properties and investment properties. |