23 Mar

Fitaihi Announces its Annual Consolidated Financial Results for the Period Ending on 31-12-2024

By Uncategorized

4180

FITAIHI GROUP

-0.51 %

1446/09/23     23/03/2025 15:57:04

Element ListCurrent YearPrevious Year%Change
Sales/Revenue67,944,38459,709,11413.79
Gross Profit (Loss)43,039,02034,744,34723.87
Operational Profit (Loss)17,928,2288,228,355117.88
Net profit (Loss)14,515,0585,207,720178.72
Total Comprehensive Income-20,00541,990,639–
Total Shareholders Equity (after Deducting Minority Equity)476,629,909476,649,914-0
Profit (Loss) per Share0.050.02
All figures are in (Actual) Saudi Arabia, Riyals
Element ListAmountPercentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value––
Accumulated Losses––
All figures are in (Actual) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last yearThe reason for the increase in revenues in 2024 compared to the previous year is mainly due to:
1)- The profit from the Company’s share of results of an associate company increased by 141.9%, reaching 17.9 million SAR in 2024, compared to 7.4 million SAR in the previous year.
2)- An increase in “Dividends Received from Equity Instruments at Fair Value Through Comprehensive Income” by 23.4%, reaching 7.9 million SAR in 2024, compared to 6.4 million SAR in the previous year.
Despite the following:
1- Sales revenue declined by 7.9% to 42.1 million SAR in 2024, compared to 45.7 million SAR in the previous year.
2- Record a gain of 0.2 million SAR from “Investment at Fair Value Through Profit or Loss” in 2023, while it did not record any such gains in 2024.
The reason of the increase (decrease) in the net profit during the current year compared to the last year isThe reason for the increase in net profit during 2024 compared to the previous year, is mainly due to:
1)- The profit from the Company’s share of results of an associate company increased by 141.9%, reaching 17.9 million SAR in 2024, compared to 7.4 million SAR in the previous year.
2)- An increase in “Dividends Received from Equity Instruments at Fair Value Through Comprehensive Income” by 23.4%, reaching 7.9 million SAR in 2024, compared to 6.4 million SAR in the previous year.
3)- A decrease in selling, distribution, administrative, general, and other expenses by 5.2%, reaching 25.4 million SAR in 2024, compared to 26.8 million SAR in the previous year.
Despite the following:
1- Sales revenue declined by 7.9% to 42.1 million SAR in 2024, compared to 45.7 million SAR in the previous year.
2- Record a gain of 0.2 million SAR from “Investment at Fair Value Through Profit or Loss” in 2023, while it did not record any such gains in 2024.
3- Zakat expense increased by 14.3% in 2024, reaching 3.2 million SAR, compared to 2.8 million SAR in the previous year.
Statement of the type of external auditor’s reportUnmodified 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)N/A
Reclassification of Comparison ItemsN/A
Additional Information–

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