Fitaihi Announces its Consolidated Interim Financial Results for the Period Ending on 30-09-2024 (Nine Months)
4180
FITAIHI GROUP
0.50 %
1446/05/03 05/11/2024 15:52:17
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 12,790,333 | 10,686,710 | 19.684 | 21,885,819 | -41.558 |
| Gross Profit (Loss) | 7,733,708 | 6,655,375 | 16.202 | 15,121,596 | -48.856 |
| Operational Profit (Loss) | 1,778,885 | 298,114 | 496.713 | 9,013,929 | -80.265 |
| Net profit (Loss) | 905,535 | -647,615 | – | 8,031,296 | -88.724 |
| Total Comprehensive Income | 1,045,397 | 4,061,275 | -74.259 | 37,942,639 | -97.244 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 48,531,782 | 46,600,141 | 4.145 |
| Gross Profit (Loss) | 32,086,279 | 26,841,720 | 19.538 |
| Operational Profit (Loss) | 13,723,763 | 6,927,917 | 98.093 |
| Net profit (Loss) | 10,974,238 | 4,049,068 | 171.031 |
| Total Comprehensive Income | -6,159,179 | 27,550,604 | – |
| Total Shareholders Equity (after Deducting Minority Equity) | 470,209,879 | 462,209,879 | 1.73 |
| Profit (Loss) per Share | 0.04 | 0.015 | |
| 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 increase in revenues during the current quarter compared to the same quarter of the previous year is mainly due to the following: 1- The Company’s share of results of an associate company increased by 21.6% to reach 4.5 million SR during the third quarter of 2024 compared to 3.7 million SR during the third quarter of 2023. 2- Sales increased by 20.3% to reach 8.3 million SR during the third quarter of 2024 compared to 6.9 million SR during the third quarter of 2023. |
| 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 increase in net profit during the current quarter of 2024 compared to the net profit during the same quarter of 2023 is mainly due to the following: 1- The Company’s share of results of an associate company increased by 21.6% to reach 4.5 million SR during the third quarter of 2024 compared to 3.7 million SR during the third quarter of 2023. 2- Sales increased by 20.3% to reach 8.3 million SR during the third quarter of 2024 compared to 6.9 million SR during the third quarter of 2023. 3- Selling, distribution, administrative, general, and other expenses decreased by 6.3% during the third quarter of 2024 to reach 6 million SR compared to 6.4 million SR during the third quarter of 2023.Th |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The decrease in revenues during the current quarter compared to the previous quarter is mainly due to the following: 1- Not rceiving any dividends from equity instruments at fair value through comprehensive income during the third quarter of 2024, compared receiving an amount of 7.9 million SR during the second quarter of 2024. 2- Sales decreased by 23.1% to reach 8.3 million SR during the third quarter of 2024 compared to 10.8 million SR during the second quarter of 2024. Despite the following: 1- The Company’s share of results of an associate company increased by 40.6% to reach 4.5 million SR during the third quarter of 2024 compared to 3.2 million SR during the second quarter of 2024 . |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decrease in net profit during the current quarter compared to the previous quarter is mainly due to the following: 1- Not receiving any dividends from equity instruments at fair value through comprehensive income during the third quarter of 2024, compared to receiving an amount of 7.9 million SR during the second quarter of 2024. 2- Sales decreased by 23.1% to reach 8.3 million SR during the third quarter of 2024 compared to 10.8 million SR during the second quarter of 2024. Despite the following: 1- The Company’s share of results of an associate company increased by 40.6% to reach 4.5 million SR during the third quarter of 2024 compared to 3.2 million SR during the second quarter of 2024 . 2- Selling, distribution, administrative, general, and other expenses decreased by 3.2% during the third quarter of 2024 to reach 6 million SR compared to 6.2 million SR during the second quarter of 2024. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenues during the current period compared to the same period of the previous year is mainly due to the following: 1- The Company’s share of results of an associate company increased by 188.6% to reach 12.7 million SR during the current period of 2024 compared to 4.4 million SR during the same period of 2023. 2- The percentage of dividends from equity instruments at fair value through comprehensive income during the current period of 2024 increased by 23.4% to reach 7.9 million SR compared to 6.4 million SR during the same period of 2023. Despite the following: 1- Sales decreased by 21.6% to reach 27.9 million SR during the current period of 2024 compared to 35.6 million SR during the same period of 2023. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the increase in net profit during the current period compared to the same period of the previous year is mainly due to the following: 1- The Company’s share of results of an associate company increased by 188.6% to reach 12.7 million SR during the current period of 2024 compared to 4.4 million SR during the same period of 2023. 2- The percentage of dividends from equity instruments at fair value through comprehensive income during the current period of 2024 increased by 23.4% to reach 7.9 million SR compared to 6.4 million SR during the same period of 2023. 3- Selling, distribution, administrative, general, and other expenses decreased by 7.5% during the current period of 2024 to reach 18.6 million SR compared to 20.1 million SR during the same period of 2023. Despite the following: 1- Sales decreased by 21.6% to reach 27.9 million SR during the current period of 2024 compared to 35.6 million SR during the same period of 2023. |
| Statement of the type of external auditor’s report | Other Matter |
| 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 We issued a limited review report with unmodified conclusion on 16 November 2023 on the interim condensed consolidated financial statements issued for the three and nine months periods ending 30 September 2023. The Group has amended its share of the results of the investee associate’s and related balances in the interim condensed consolidated financial statements for the three months ended 30 September 2023 after obtaining the associate financial statements for the three and nine months period ended 30 September 2023. (For further details, please refer to Note 13). |
| Reclassification of Comparison Items | Certain prior period figures have been reclassified to conform with the presentation of the current period. |
| Additional Information | – |
