| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenues increased by 7% reaching SAR 660 million, an increase of SAR 43 million, driven by expansion primarily in the Flour segment which grew 13% in volume compared to last year. This expansion is attributable to strong performance across all product categories in the Flour. Bran segment performance was consistent to last year, however improvement in Bran prices helped growth in revenue during the current year. These growth statistics were partially offset by a decline in feed segment which declined by 17% in volume compared to last year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit increased by 17% reaching SAR 201 million, an increase of SAR 30 million. This growth is attributable to a continuous move towards efficiency in operation. The revenue growth of 7% contributed to higher margins while restricting the COGS growth to 6% only. The general and administrative expenses were also controlled at the same level as last year. The selling and distribution expenses grew by 38% mainly due to growth in logistics and marketing expenses. However, the Company improved its funds management contributing 34% additional finance income from Sharia compliant deposits compared to last year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | None |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform with the presentation for the current year. |
| Additional Information | In case of any inquiries or further details, please contact investor relations though email at: investor.relations@mc4.com.sa. |
