ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER % CHANGE
Sales/Revenue 23,176,937 22,590,101 2.597 24,745,999 -6.34
Gross Profit (Loss) 6,492,780 5,953,367 9.06 3,764,441 72.476
Operational Profit (Loss) 1,795,086 1,354,707 32.507 -2,149,795 -
Net Profit (Loss) after Zakat and Tax 2,089,274 523,609 299.014 1,152,082 81.347
Total Comprehensive Income 2,247,036 523,609 329.143 1,647,329 36.404
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LIST CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR %CHANGE
Total Share Holders Equity (after Deducting Minority Equity) 526,157,051 523,972,624 0.416
Profit (Loss) per Share 0.04 0.01
All figures are in (Actual) Saudi Arabia, Riyals
  ACCUMULATED LOSSES CAPITAL PERCENTAGE %
  56,252,943 500,000,000 11.25
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 increase in profits is related to the growth in sales by 2.6%, as the agricultural and aquacultural sector sales grew by 10.3%, supported by an increase in sales of shrimp and fruits. In addition, revenues from Real estate operation rose by 4.5% as a result of an increase in the occupancy rate, while the sales of the industrial sector (water factory) declined by 19%, due to being affected by the Corona pandemic. The increase in net profits is also led by a reduction in cost of revenue, which contributed to a higher gross profit by 9% as a result of a high efficiency and reduction in operating costs in the agricultural and aquacultural sector. Furthermore, the improvement in the performance of the associates and subsidiaries also contributed to the increase in net profits. Therefore, all the above-mentioned reasons contributed to the growth of net profits for this quarter by nearly 300% compared to the same quarter from the previous year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is Despite the decrease in sales compared to the previous quarter, the company achieved higher profits due to the following reasons:

 

 

1- Reduction in selling and marketing expenses

2- Decrease in general and administrative expenses

3- Decrease in the allowance for doubtful debts
Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items Some comparative figures for the previous year have been reclassified to conform to the presentation used for the current period.

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