| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
-
|
0.16
|
-
|
-
|
56.64
|
| Gross profit (loss) |
0.84
|
1.2
|
-
|
0.28
|
203.24
|
| Operational profit (loss) |
-
|
0.02
|
-
|
-
|
72.7
|
| Earning or loss per share, Riyals |
-
|
0.02
|
-
|
-
|
-
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The reason for the loss is due to the decrease in sale and due to cancelation of Afia International Company to agency contract with them for distribution of food products in both East of Riyadh and South of Jeddah areas, as per our previous announcement on Tadawul. Also decrease in sales of Asian products in local market and delay of shipment of food products from African countries to local market. In addition to decrease in other income. In addition to that, the company is restructuring its business operational strategy, as we mentioned in board of director reports, by diversifying its income and not to rely in one source of income which is trading to reduce risk of company continuity, whereas company is investing in industry, where it bought a factory specialize in medical accessories manufacturing as previously announced in Tadawul. Also company start financial investment, where it start new share portfolio for investing in new listed company subscription, Initial Public Offering (IPO). |
| Reasons of increase (decrease) for quarter compared with previous quarter | The reason for the decrease in loss from SAR 1.1 million during previous quarter compared to SAR 477 thousand during this quarter with decrease of 56.6%, which is due to increase of profit margin from sales of Asian products in the local market. In addition to increase in other income. |
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