| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 13.23 | 0.27 | 4,800 | ||
| Gross Profit (Loss) | -0.33 | 0.24 | - | ||
| Operational Profit (Loss) | -15.92 | -23.16 | -31.26 | ||
| Net profit (Loss) | -15.6 | -21.09 | -26.03 | ||
| Total Comprehensive Income | -15.58 | -20.98 | -25.74 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 144.45 | 160.02 | -9.73 | ||
| Profit (Loss) per Share | -0.8 | -1.76 | |||
| 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 | -51.1 | -26.29 | |
| All figures are in (Millions) 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 reason for the increase in the company's sales compared to the previous year is due to the company opening new markets and attracting new customers in line with the company's strategic plan |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the decrease in the net loss during the current year 2023 compared to the previous year 2022 is due to the increase in the company's sales compared to the previous year 2022 in addition to the company's profits from its investments by exploiting part of the cash liquidity. |
| 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) | Another command: |
The Company's financial statements for the financial year ended 31 December 2022 were reviewed by another sponsor who expressed an unmodified opinion on those financial statements on 03 Shaaban 1444H corresponding to 23 February 2023G.
Where the average reference for the number of shares was calculated based on the approval of the Extraordinary General Assembly on 15-02-2022 AD to reduce the company's capital from sixty-four million eight hundred thousand riyals (64,800,000 riyals) to twenty-one million six hundred thousand riyals (21,600,000 riyals) by 66.66%, and the delisting of 4,320,0000 shares, and the capital increase based on the approval of the extraordinary general assembly on 11-05-2022 from twenty-one million six hundred thousand riyals (21,600,000 riyals) to one hundred ninety-four million four hundred thousand riyals (194,400,000 riyals) and by 800%, up 17,280,000 shares.
- The company indicates that its accumulated losses reached 26.29% of the capital: The accumulated losses amounted to the same as at 31/12/2023 according to the annual financial statements for the fiscal year ending on 31/12/2023. An amount of SAR 51.10 million, representing 26.29% of the company's capital of SAR 194.40 million. The main reasons for these accumulated losses are due to the current economic conditions, low demand and profit margin on the company's main products, in addition to the fluctuation in the global prices of the main product that the company sells (SULFUR product). The company will apply the procedures and instructions issued by the Capital Market Authority regarding companies whose shares are listed on the Saudi Stock Exchange and whose accumulated losses amounted to 20% or more of their capital.
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.