| ELEMENT LIST | CURRENT YEAR | PREVIOUS YEAR | %CHANGE | ||
|---|---|---|---|---|---|
| Sales/Revenue | 98,509,218 | 85,071,604 | 15.795 | ||
| Gross Profit (Loss) | 40,726,064 | 30,784,809 | 32.292 | ||
| Operational Profit (Loss) | 11,806,308 | 8,450,587 | 39.709 | ||
| Net Profit (Loss) after Zakat and Tax | 13,282,906 | 10,783,359 | 23.179 | ||
| Total Comprehensive Income | 19,768,885 | 11,495,959 | 71.963 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 544,205,995 | 523,972,624 | 3.861 | ||
| Profit (Loss) per Share | 0.27 | 0.22 | |||
| 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 increase in net profit during 2021 compared to last year is a result of rising production effectiveness to reduce and control costs. Also, penetrate new international markets for aquaculture products, improve the aquaculture practice, improve the shrimp’s production, and increase production by 13% compared to last year. The company has applied new methods for sales and marketing.
Consequently, the initiatives have contributed to achieving the following: 1. Increase in shrimp sales. 2. Increase in real estate revenue. 3. Gains from subsidiary (Mango Jazan Company) |
| Statement of the type of external auditor's report | Qualified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | The investment in One of the associate companies was evaluated on December 31, 2021 based on administrative financial statements due to the audited financial statements were not issued. as mentioned in note No. (11) of the accompanying notes of the financial statements, and we were unable to perform alternative audit procedures to verify the accuracy and evaluation of that investment. |
| 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 2020 due to the growth in sales and the restructuring of the company, which facilitates in maintain costs within reason. In addition, the company in 2021 invested in improving the efficiency and production of the shrimp farm which led to 13% growth in production in comparison to year 2020. |
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