| 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 reason for achieving revenues (sales) for the current quarter versus no sales revenue for the same quarter of the previous year is due to the commencement of the commercial activity of Sadu Al Arab Company, which is fully owned by the company, as of the end of the previous quarter of the current 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 reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to the presence of profits from the acquisition of a subsidiary during the current quarter |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the increase in revenues (sales) during the current quarter compared to the previous quarter is that the commercial activity of Sadu Al Arab Company, which is fully owned by the company, began operating from the last month of the quarter, while the current quarter included three months of sales |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the increase in net profit during the current quarter compared to the previous quarter is due to the presence of profits from the acquisition of a subsidiary during the current quarter. |
| 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 reason for achieving revenues (sales) during the current period versus the absence of sales revenue for the same period of the previous year is due to the commencement of the commercial activity of Sadu Al Arab Company, which is fully owned by the company, as of the end of the previous quarter of the current year. |
| 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 achieving net profit during the current period compared to achieving losses for the same period of the previous year is due to the beginning of achieving operating profits from the subsidiary company, Sado Al Arab, which is fully owned by the company, starting from the last month of the second quarter of the current year, in addition to the increase in deposit revenues for the current period compared to the same period of the previous year, in addition to achieving profits resulting from the acquisition of a company by a subsidiary company. |
| Statement of the type of external auditor's report | Notice |
| 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) | - Clarification No. 16 attached to the summary preliminary financial information, regarding the government grant “Agricultural Lands”, as on August 2, 2022 AD, the company received the decision of the Ministry of Environment, Water and Agriculture issued on June 30, 2022 AD, which included that an instrument could not be issued in the name of the company, but It can benefit from the land until Saudi Aramco’s actual need is met. Accordingly, the company has reclassified the government grant as intangible assets (government grant) instead of classifying it as property, machinery and equipment because it obtains the right to benefit from agricultural land until the actual need for it is met. Before Saudi Aramco or in the event of release of the reservation on the land or part thereof. The productive age for benefiting from agricultural land has not been determined |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to conform to the current period presentation |
| Additional Information | As stated in Clarification (13), starting from the previous period, the subsidiary company (Sadu Al Arab) owned by the company began commercial operation and its results were consolidated with the results of the Eastern Development Company. As stated in Clarification (1), during the current quarter, Sadu Al Arab Company (a subsidiary) acquired Al Waseet Land Transport Company, which resulted in an increase in the fair value by an amount of 6 million riyals, which was recognized as acquisition gains |