| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 3,998,680 | 4,562,018 | -12.348 | 4,464,441 | -10.432 |
| Gross Profit (Loss) | 2,890,631 | 3,506,036 | -17.552 | 3,398,247 | -14.937 |
| Operational Profit (Loss) | 944,556 | 1,410,565 | -33.037 | 2,016,361 | -53.155 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 968,758 | 1,325,910 | -26.936 | 1,917,597 | -49.48 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 968,758 | 1,325,910 | -26.936 | 1,917,597 | -49.48 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 230,800,708 | 224,379,437 | 2.861 |
| Profit (Loss) per Share | 0.0044 | 0.0061 | |
| All figures are in (Actual) 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 (Actual) 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 | The 12% decline in revenues during the current quarter compared to the corresponding quarter of the previous year is due to a decrease in the occupancy rate. |
| 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 decline in net profit during the current quarter compared to the corresponding quarter of the previous year is due to the following: 1- 12% decrease in the company’s revenues due to a decline in the occupancy rate. 2- 34% increase in general and administrative expenses due to higher provisions for employee benefits obligations. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The 10% decline in revenues during the current quarter compared to the previous quarter is due to a decrease in the occupancy rate. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decline in net profit during the current quarter compared to the previous quarter is due to the following: 1 - 10% decrease in the company’s revenues due to a decline in the occupancy rate during the period. 2- The reversal of a previous decline (impairment) in investment properties from the prior quarter amounting to 338,415. |
| 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) | Emphasis of a Matter We draw attention to note (4, 8) to the accompanying interim condensed financial statements, which describes the legal case on the assets exchange with Al - Sata’ah Modern General Contracting Company. The Company has created a provision for expected losses that resulted from the assets exchange contract with Al- Sata’ah Modern General Contracting Company for an amount of SR 26,136,823, where the Company's management believes that the assets that are supposed to be received in the barter transaction have low values and there is a significant impairment on them as a result of their obsolescence; accordingly a provision has been recognized against them for the amount of the performance obligations that the company is obliged to transfer to the other party. In addition, the previously issued court judgment obligating Darb Saudi Company to execute the terms of the contract with Al- Sata’ah Modern General Contracting Company was upheld. Our conclusion is not modified in respect of this matter |
| Reclassification of Comparison Items | no changes |
| Additional Information | Earnings (Loss) per Share (EPS) is calculated based on the net results of the year attributable to the company’s shareholders, divided by the weighted average number of issued shares. Diluted earnings per share is the same as basic earnings, as the company had no dilutive instruments outstanding during the period. On April 8, 2025, the Extraordinary General Assembly meeting was held, and a vote was taken to amend the par value of the share to SAR 1 instead of 0.10 halalas per share. Consequently, the number of shares increased to 218,295,000 nominal shares instead of 2,182,950,000 nominal shares. This resulted in an adjustment to the weighted average number of shares to 218,295,000 shares. In accordance with the requirements of International Accounting Standard (IAS) 33, the weighted average number of shares was retrospectively adjusted for all periods as follows: Weighted Average Number of Shares (After Adjustment): Current Quarter: 218,295,000 Same Quarter of the Previous Year: 218,295,000 Basic and Diluted Earnings per Share for the Company’s Shareholders: Current Quarter: SAR 0.0044 Same Quarter of the Previous Year: SAR 0.0061 |
