| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 114,080.25 | 155,367.76 | -26.57 | ||
| Gross Profit (Loss) | -11,437.38 | 1,217.41 | - | ||
| Operational Profit (Loss) | -40,813.97 | -66,046.61 | -38.2 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -64,729.12 | -73,105.42 | -11.46 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -63,831.83 | -73,079.69 | -12.65 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 17,146.43 | 80,978.26 | -78.83 | ||
| Profit (Loss) per Share | -4.2 | -4.62 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | 55,989.6 | 76.56 | |
| All figures are in (Thousands) 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 | - Reduced branch sales . - Reduced revenues from contracts and franchises . - There are no Hajj contracts this year . |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | - Low sales; - Reduced revenues from contracts and franchises - There are no Hajj contracts this year - Depreciation expense on property and equipment - The company's share of the losses of the associate company - Assessment losses of the decline in investment in the associate company |
| Statement of the type of external auditor's report | Notice |
| 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) | Drawing attention : Material Uncertainty Related to Going Concern We draw attention to Note (32) to the financial statements, which indicates that the company's total accumulated losses as of December 31, 2025, amounted to SAR 55,989,599, representing 76.6% of its share capital (December 31, 2024: SAR 77,386,141, representing 48.9% of share capital). Furthermore, the company's current liabilities exceeded its current assets, resulting in a working capital deficit of SAR 60,040,163 (December 31, 2024: SAR 35,215,245). These factors indicate significant uncertainty regarding the company's ability to continue as a going concern. Nevertheless, the company relies primarily on the execution of its business plans to generate sufficient cash flows to enable the Company to meet its obligations as they fall due and continue its operations without substantial deficits. This will be achieved through the implementation of a package of corrective actions, including product diversification to increase branch sales. The company focuses on the catering sector and enhancing revenues through long-term strategic agreements, expanding geographically into currently underserved areas, and reducing operating expenses by centralizing warehouses, slaughterhouses, and a central kitchen. Furthermore, on May 29, 2025 (corresponding to Dhul Hijjah 2, 1446 AH), the company announced the Board of Directors' recommendation to the Extraordinary General Assembly of Shareholders to restructure the company's capital by reducing and increasing it through a rights issue. On November 2, 2025, the company announced that the General Assembly approved the Board of Directors' recommendation to reduce the company's capital by a 95% majority, through the cancellation of 8,494,864 shares, at a rate of 0.53736 shares for each share held. Accordingly, the company's financial statements have been prepared on a going concern basis, and our opinion has not been modified in respect of this matter. |
| Reclassification of Comparison Items | Comparative figures - The comparative figures for the previous year presented in these financial statements have not been subject to any material reclassification. Thus, the presentation of balances and disclosures remains consistent with their presentation in the current period, which ensures the comparability of financial information. - Except for the restatement of some figures, which, in turn, affect the statement of income by operating loss with the year of comparison and do not affect the total comprehensive loss. 2024-67,170,616 SAR & 2024 comparison 66,064,611 SAR operating loss . |
| Additional Information | • Sales for the current period of 2025 amounted to 114,080,252 SAR compared to 155,367,760 SAR for the comparative period of 2024, representing a decrease of 41,287,508 SAR, or -26.57%. • The total loss for the current period of 2025 amounted to -11,437,376 SAR compared to a total profit of 1,217,411 SAR for the comparative period of 2024, representing an increase in losses of -12,654,787 SAR, or -1,039.48%. • The operating loss for the current period of 2025 amounted to -40,813,975 SAR compared to an operating loss of -66,046,611 SAR for the comparative period of 2024, representing a decrease of 25,232,636 SAR, or -38.00%. • The net loss (after Zakat and tax) for the current period of 2025 amounted to -64,729,123 SAR compared to a net loss (after Zakat and tax) of -73,105,420 SAR for the comparative period of 2024, representing a decrease of 8,376,297 SAR, or 11.46%. • The total comprehensive loss for the current period of 2025 amounted to -63,831,820 SAR compared to a comprehensive loss of -73,079,688 SAR for the comparative period of 2024, representing a decrease of 9,247,868 SAR, or 12.65%. • The loss per share for the current period of 2025 amounted to -4.2 SAR compared to a loss per share of -4.62 SAR for the comparative period of 2024. • Total shareholders’ equity (excluding minority interest) for the current period of 2025 amounted to 17,146,431 SAR compared to 80,978,257 SAR for the comparative period of 2024, representing a decrease of 63,831,826 SAR, or 78.00%. • Accumulated losses at the end of the current year amounted to -55,989,599 SAR, representing 76.55% of the share capital. Reasons for the losses: • Decline in sales • Decrease in revenues from contracts and franchise operations • Absence of Hajj contracts for the current year • Impairment expense on property and equipment • The company’s share of losses from the associate company • Impairment loss on investment in the associate company Actions the company will take regarding these losses: • Completing the restructuring of service and operational sectors • Increasing branch sales by diversifying restaurant products and focusing on delivery services through a comprehensive marketing plan • Focusing on the catering sector and enhancing revenues through long-term strategic agreements • Restructuring the franchise model and expanding geographically, especially outside the Kingdom |
