ELEMENT LIST CURRENT YEAR PREVIOUS YEAR %CHANGE
Sales/Revenue 85,071,604 71,881,738 18.349
Gross Profit (Loss) 30,784,809 15,743,657 95.537
Operational Profit (Loss) 8,450,587 -10,543,148 -
Net Profit (Loss) after Zakat and Tax 10,783,359 -12,903,931 -
Total Comprehensive Income 11,495,959 -12,017,588 -
Total Share Holders Equity (after Deducting Minority Equity) 523,972,624 524,763,082 -0.15
Profit (Loss) per Share 0.22 -0.26
All figures are in (Actual) Saudi Arabia, Riyals
ELEMENT LIST EXPLANATION
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The Company has achieved profitability in 2020 as a result of its transformation program that has been launched in 2019. The transformational efforts includes organization restructuring , control and reduce cost as well as adopt new methods for sales and marketing. Consequently, the initiatives have contributed in achieving the following:

 

 

1. Increase in shrimp sales.

2. Increase in real estate revenue.

3. Increase in mango sales.

4. Reduction in operating expenses

5. Gains from subsidiary (Mango Jazan Company)

6. Reduction in general and administrative expenses

7. Significant improvement in efficiency and production of Shrimp, which resulted in a growth of 41% in production.
Statement of the type of external auditor's report Unmodified opinion
Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to the current year’s presentation.
Additional Information The company has achieved the highest net income since 2015 due to the growth in sales and the restructuring of the company, which facilitates cutting costs. In addition, the company in 2020 invested in improving the efficiency and production of the shrimp farm which led to 41% growth in production, resulting in a reduction of the operating expenses.

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