| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Sales revenue increased by almost 4% predominantly due to increase in local sales volume and better pricing. Management is upbeat to withstand the challenging environment due to the intense competition in the carpet industry. It is expected that the positive effect of capacity building will continue to post positive impact on sales revenue during subsequent periods also. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Company earned Operating Profit during this quarter SAR 2,502 thousand against Operating Loss of SAR 3,847 thousand during same quarter of last year. Resultantly, Net Loss during the quarter decreased to SAR 2,972 thousand during this quarter compared with Net Loss of SAR 9,036 thousand same quarter of last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Sales revenue decreased by almost 31% mainly due to seasonal factors as historically demand suppresses during 2nd quarter as compared to 1st quarter. It is expected that the positive effect of capacity building will post positive impact on sales revenue during subsequent periods. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Due to lower Sales during 2nd quarter as compared to 1st quarter, company earned net loss amounting SAR 2,972 thousand in comparison to the net profit earned during 1st quarter amounting SAR 5,699 thousand. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Sales revenue increased by almost 9% predominantly due to increase in local sales volume and better pricing in comparison to the same period of last year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Company earned Net Profit during this period amounting SAR 2,727 thousand against Net Loss of SAR 7,602 thousand during the similar period of last year mainly due to increased sales, better raw material prices and efficient cost control measured taken by management. |
| 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) | We would like to draw attention to Note 2/5/1 regarding the going concern assumption, which indicates that the Group will incur a net cash flow deficit for the six-month period ending June 30, 2025. The Group also received a letter of claim from the Saudi Industrial Development Fund (SIDF) demanding full repayment of the guarantee provided for a loan granted to Al Reef Sugar Refining Company in the amount of SAR 100.8 million. Management has studied the impact of this claim and prepared a cash flow forecast for the next twelve months. Management also indicates the presence of undrawn bank facilities that support the Group's ability to meet its obligations, in addition to the presence of a healthy working capital position, with total current assets exceeding total current liabilities by a ratio of 2:1. Accordingly, management believes there is no material uncertainty that would affect the Group's ability to continue its business in the foreseeable future. Our conclusion has not been modified in this regard. |
| Reclassification of Comparison Items | Not reclassified. |
| Additional Information | There are no minority rights |
