| Item | Current Quarter | Same Quarter of Previous Year | Change % | Previous Quarter | Change % |
|---|---|---|---|---|---|
| Sales/Revenue | 17,707,343 | 20,227,862 | -12.46 | 18,031,761 | -1.799 |
| Gross Profit (Loss) | 14,604,047 | 15,298,780 | -4.541 | 15,249,227 | -4.23 |
| Operating Profit (Loss) | 12,249,282 | 12,877,520 | -4.878 | 12,492,933 | -1.95 |
| Net Profit (Loss) | 8,169,422 | 6,417,465 | 27.299 | 9,997,824 | -18.287 |
| Total Comprehensive Income | 8,045,396 | 6,415,843 | 25.398 | 9,837,426 | -18.216 |
| All figures are in (Actual) Saudi Riyals | |||||
| Item | Current Period | Same Period of Previous Year | Change % |
|---|---|---|---|
| Sales/Revenue | 35,739,104 | 59,523,712 | -39.958 |
| Gross Profit (Loss) | 29,322,639 | 36,258,054 | -19.127 |
| Operating Profit (Loss) | 24,724,215 | 32,010,785 | -22.762 |
| Net Profit (Loss) | 18,167,245 | 20,054,542 | -9.41 |
| Total Comprehensive Income | 17,882,821 | 19,999,520 | -10.583 |
| Total Equity (After Excluding Non-Controlling Interests) | 414,215,884 | 393,501,181 | 5.264 |
| Earnings (Loss) per Share | 0.09 | 0.1 | |
| All figures are in (Actual) Saudi Riyals | |||
| Item | Value | % of Capital | |
|---|---|---|---|
| Gains (Losses) from Changes in Fair Value of Investment Properties | – | – | |
| All figures are in (Actual) Saudi Riyals | |||
| Item | Explanation |
|---|---|
| Reason for the increase (decrease) in sales/revenue during the current quarter compared to the same quarter of the previous year | The decrease in revenue during the current quarter compared to the same quarter of the previous year is due, despite a 7% increase in rental revenues compared to Q1 2024, to land sales achieved in the comparable quarter in Al-Qadisiyah district amounting to SAR 3.619 million, while no land sales were recorded in the current quarter. |
| Reason for the increase (decrease) in net profit during the current quarter compared to the same quarter of the previous year | The increase in net profit during the current quarter compared to the same quarter of the previous year is due to:*
1- A 7% increase in rental revenues compared to the same quarter of the previous year. 2- A decrease in cost of revenues by SAR 1.8 million (37%) compared to the same quarter of the previous year, due to no costs recorded related to land sales during the current quarter. 3- A reversal of a provision for impairment in investment properties amounting to SAR 2.1 million, which supported the current quarter results. 4- Despite an increase in finance costs by SAR 2.3 million compared to the same quarter of the previous year, concentrated in the subsidiary “Qimam Nashaz Real Estate Development Company”. |
| Reason for the increase (decrease) in sales/revenue during the current quarter compared to the previous quarter | The slight decrease of SAR 324 thousand (1.8%) in revenue during the current quarter compared to the previous quarter is due to replacing some tenants in a number of properties, which led to temporary vacancy periods that affected total rental revenues. |
| Reason for the increase (decrease) in net profit during the current quarter compared to the previous quarter | The decrease in net profit during the current quarter compared to the previous quarter by SAR 1.82 million is due to the following:
1- An increase in finance costs of SAR 1.85 million in the subsidiary Qimam Nashaz Real Estate Development Company, due to the acquisition of lands in Al-Rahmaniyah district. |
| Reason for the increase (decrease) in sales/revenue during the current period compared to the same period of the previous year | The decrease in revenue during the current period compared to the same period of the previous year is due, despite an 8% increase in rental revenues, to land sales of SAR 26.3 million recorded in the comparable period of the previous year, while no similar sales were recorded during the current period. |
| Reason for the increase (decrease) in net profit during the current period compared to the same period of the previous year | The decrease in net profit during the current period compared to the same period of the previous year by SAR 1.887 million is due to:
1- Lower revenues during the current period as a result of land sales achieved in Al-Qadisiyah district during the comparable period of the previous year, which contributed to profits. 2- Higher financing charges by SAR 2.65 million compared to the comparable period of the previous year, mainly due to increased finance costs in the subsidiary “Qimam Nashaz Real Estate Development Company”. |
| Type of auditor’s report | Unmodified opinion |
| Any note in the auditor’s report such as an “Other Matter” paragraph, qualification, emphasis of matter, disclaimer of opinion, or adverse opinion | None |
| Reclassification of some comparative figures | Comparative figures have been reclassified to align with the current presentation. |
| Additional information | – |
