| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 577.4 | 567.1 | 1.816 | 705.9 | -18.203 |
| Gross Profit (Loss) | 143.4 | 130.1 | 10.222 | 230.1 | -37.679 |
| Operational Profit (Loss) | 103 | 97.8 | 5.316 | 153 | -32.679 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 59.3 | 68.1 | -12.922 | 103.6 | -42.76 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 59.3 | 68.1 | -12.922 | 102.6 | -42.202 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 1,073.5 | 847.1 | 26.726 |
| Profit (Loss) per Share | 0.12 | 0.14 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue reached SAR 577.4 million in the current quarter, compared with SAR 567.1 million during the corresponding quarter of the previous year, representing growth of 1.8%. This was mainly due to a 2.3% increase in revenue from development contracts, driven by higher revenue from real estate funds, in addition to higher completion rates for ongoing projects compared with the corresponding quarter of the previous year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit attributable to the Company’s Shareholders amounted to SAR 59.3 million in the current quarter, compared with SAR 68.1 million, representing a decrease of 12.9% compared with the corresponding quarter of the previous year. This was mainly due to the increase in general and administrative expenses, selling and marketing expenses, and finance costs, in addition to the decrease in shares of results from equity accounted investments during the current quarter compared with the corresponding quarter of the previous year. It is worth noting that the Company achieved growth in gross profit of 10.2% during the current quarter, which was reflected in an improvement in gross profit margin to 24.8%, compared with 22.9% during the corresponding quarter of the previous year. The company also achieved growth in operating profit of 5.4% compared with the corresponding quarter of the previous year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue reached SAR 577.4 million in the current quarter, compared with SAR 705.9 million in the previous quarter, representing a decrease of 18.2%. This was mainly due to the decrease in revenue from development contracts, as the previous quarter witnessed higher sales in conjunction with the “Cityscape Global” exhibition. The current quarter was also impacted by seasonal factors, represented by the occurrence of the holy month of Ramadan, which is typically characterized by a relative slowdown in sales activity within the real estate development sector. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit attributable to the Company’s Shareholders amounted to SAR 59.3 million in the current quarter, compared with SAR 103.6 million, representing a decrease of 42.8% compared with the previous quarter. This was mainly due to a 37.7% decrease in gross profit, which was reflected in a decrease in operating profit during the current quarter despite the decrease in operating expenses, in addition to the decrease in the shares of results from equity accounted investments. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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 | None. |
| Additional Information | For any inquiries, please contact Investor Relations Department at: +966138013803 or by e-mail: IR@retal.com.sa |
