| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,272 | 1,213 | 4.86 | ||
| Gross Profit (Loss) | 298 | 258 | 15.5 | ||
| Operational Profit (Loss) | 77 | 121 | -36.36 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 96 | 122 | -21.31 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 93 | 123 | -24.39 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 346 | 421 | -17.81 | ||
| Profit (Loss) per Share | 3.2 | 4.06 | |||
| 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 | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The company posted a sales revenue of SAR. 1,272M in the current year in comparison to SAR. 1,213M for the previous year registering an increase of 5%. The increase in revenue for the current year as compared to the last year was mainly because company secured more business in ICT segment and MIS professional inhouse services. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The company posted a gross profit of SAR 298M in the current year versus SAR 258M for the previous year, an increase of 16%. The increase is mainly due to the significant increase in sales revenue during the current year and margin enhancement. The company registered an operational profit of SAR 77M for the current year versus SAR 121M in the previous year, registering a drop of 36%. The decrease is mainly due to increase in non-cash provision related to expected credit loss in trade receivables and contract assets by SAR. 60M compared to last year. The increase in general & administration expenses is mainly due to increase in employee’s cost, professional fees and increase in subsidiaries expenses by SAR. 28M compared to the previous year. The net profit for the current year is SAR 96M versus SAR 122M in the previous year, registering a drop of 21%. The decrease is mainly attributed to reduction in operational profit by SAR. 44M. The previous year’s results included a one-time gain of SAR 58M from the disposal of shares in the associate company Edarat Telecommunication and IT. In contrast, during the current year the company registered increase in gain of SAR. 78M from investment at the fair value through profit and loss. The total comprehensive income for the current year is SAR.93M in comparison to SAR. 123M in the previous year, with a drop of 24%. |
| 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) | - |
| Reclassification of Comparison Items | - |
| Additional Information | As of the current period, the total shareholders' equity amounting to SAR 346M, compared to SAR 421M in the similar period of the previous year. The decrease is partly due to distribution of SAR. 168M in cash dividend to shareholders during the current year. Profit per share decreased by 21%, to SAR 3.20 compared to SAR 4.06 in the previous year. |
