| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 138,961,817 | 163,739,081 | -15.13 | ||
| Gross Profit (Loss) | 15,036,418 | 24,647,706 | -38.99 | ||
| Operational Profit (Loss) | 1,698,120 | 11,325,076 | -85 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 1,882,559 | 11,033,238 | -82.94 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 1,839,246 | 11,030,000 | -83.33 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 25,279,627 | 22,305,481 | 13.33 | ||
| Profit (Loss) per Share | 0.94 | 5.52 | |||
| 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 year compared to the last year | The decrease in sales/revenues during the financial year 2025 compared to the financial year 2024 is primarily attributable to the decline in feed selling prices in 2025, driven by lower prices of key raw materials compared to the previous year amid intensified price competition in the local market. This decline was further exacerbated by some customers shifting towards vertical integration through establishing their own feed mills, thereby transitioning from purchasers to self-sufficient producers, which resulted in a reduction in demand for the Company’s products. In addition, the poultry market has witnessed significant price competition, prompting poultry companies to exert pressure to reduce input costs, including feed, which has intensified price competition among feed manufacturers. Nevertheless, the Company focused on quality and improving feed conversion efficiency, which contributed to attracting new customers and mitigating the impact of the decline in sales. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The decrease in net profit during the financial year 2025 compared to the financial year 2024 is primarily due to intensified price competition, which led to lower selling prices and consequently a decline in gross and operating profit margins, despite relative stability in other cost components. This adversely affected the Company’s net profit and overall financial performance during the period under comparison. |
| 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) | Other Matter: The Company’s financial statements for the financial year ended 31 December 2024 were audited by another external auditor, who expressed an unmodified audit opinion in his report dated 14 Dhul-Qa’dah 1446H (corresponding to 12 May 2025). |
| Reclassification of Comparison Items | • The Company had not previously recognized lease contracts in accordance with IFRS 16. During the year, management corrected this by recognizing right-of-use assets, lease liabilities, depreciation of right-of-use assets, and interest on lease liabilities. • The Company had not previously recognized government grants in accordance with IAS 20. During the year, management corrected this by recognizing government grants and amortizing related grant income, which impacted loan balances. • The Company had not previously recognized offering expenses incurred during 2024. During the year, management corrected this by recognizing such expenses in 2024, resulting in a reduction of prepaid expenses by SAR 400,000, recognition of accrued expenses of SAR 100,000, and a reduction in retained earnings by SAR 500,000. These amounts were settled by the shareholders and added to the Company’s equity. • An error relating to the overstatement of allowance expenses recorded during 2024 was corrected. • The Company had not previously recognized expenses on an accrual basis. During the year, management corrected this by recognizing expenses in 2024. • The fair value reserve previously included within retained earnings was reclassified and presented separately. • Projects under construction related to software were reclassified from property, plant, and equipment to intangible assets. |
| Additional Information | None |
