1443/04/06 Thu Nov 11, 2021 17:20:48
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Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
Sales/Revenue | 1,943 | 1,500 | 29.533 | 1,906 | 1.941 |
Gross Profit (Loss) | 701 | -648 | - | 601 | 16.638 |
Operational Profit (Loss) | -3,216 | -2,210 | 45.52 | -2,516 | 27.821 |
Net Profit (Loss) after Zakat and Tax | -2,837 | -1,143 | 148.206 | -2,502 | 13.389 |
Total Comprehensive Income | 21,735 | -1,143 | - | -1,896 | - |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
Sales/Revenue | 5,846 | 6,381 | -8.384 |
Gross Profit (Loss) | 2,028 | 789 | 157.034 |
Operational Profit (Loss) | -8,487 | -4,324 | 96.276 |
Net Profit (Loss) after Zakat and Tax | -8,092 | -1,295 | 524.864 |
Total Comprehensive Income | 17,120 | -1,295 | - |
Total Share Holders Equity (after Deducting Minority Equity) | 106,065 | 14,494 | 631.785 |
Profit (Loss) per Share | 1.63 | -0.86 | |
All figures are in (Thousands) 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 reason for achieving profits for the current quarter (third of 2021) compared to losses for the same quarter of the previous year is due to:
Net profit is achieved for the current quarter compared to the losses in same quarter of the previous year is due to the gain on disposal of assets of discontinued operations. Gain of 24.6 million riyals is achieved by selling the assets of Al-Jouf project during the current quarter also there is an increase in sales by 30% and decrease in cost of sales for the current quarter by 42%, which positively affected achieving a gross profit for the current quarter compared to a gross loss for the same quarter of the previous year, increase in general and administrative expenses as a result of the increase in staff costs, led to a higher operating loss for the current quarter compared to the same quarter of pervious 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 |
The reason for achieving profits for the current quarter (third of 2021) compared to realizing losses for the previous quarter of the same year is due to:
The reason for achieving net profits for the current quarter compared to the losses in the previous quarter of the current year is mainly due to the gain on disposal of assets of discontinued operations as a result of selling Al-Jouf project during the current quarter at an amount of 24.6 million riyals, the increase in sales and other income has also contributed to the increase in the total profit for the current quarter compared to the previous quarter. |
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 realizing profits during the current period compared to realizing a loss for the same period of the previous year is due to the following:
The reason for realizing a net profit for the current period compared to realizing a loss for the same period last year is due to the realization of gain on disposal of assets of discontinued operations as a result of selling Al-Jouf Agricultural Project during the current period at an amount of 24.6 million riyals and a decrease in the cost of sales for the current period by 32% as a result of a decrease feed sales, which positively affected the increase in gross profit for the current period by 157% compared to the same period of the previous year, increase in general and administrative expenses as a result of the increase in staff costs, led to a higher operating loss for the current period compared to the same period of the previous year. |
Statement of the type of external auditor's report | Adverse conclusion |
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion |
Basis for adverse conclusion
During the three-month period ended September 30, 2021, the Group acquired 51% equity interest in a subsidiary against a consideration of SR 24,480,000. Management of the Group has not consolidated the financial information of the subsidiary in the accompanying interim condensed consolidated financial statements as management of the subsidiary is still in the process of preparing the financial statements of the subsidiary as of the date of the acquisition and as of September 30, 2021, which is not in line with requirements of IAS 34, as endorsed in the Kingdom of Saudi Arabia. Had the financial information of the subsidiary consolidated in the accompanying interim condensed consolidated financial statements, the interim condensed consolidated financial statements would have been materially different. Qualified conclusion Our review indicates that, because the Group has not consolidated the financial information of the subsidiary, as described in the preceding paragraph, the accompanying interim condensed consolidated financial information is not prepared, in all material respects, in accordance with IAS 34 that is endorsed in the Kingdom of Saudi Arabia. |
Reclassification of Comparison Items | Some comparative figures have been reclassified to conform to the current presentation |
The Capital Market Authority and the Saudi Stock 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.
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Anaam International Holding Group Co. SJSC published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 14:56:08 UTC.