| 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 revenue during the current quarter compared to the corresponding quarter of the previous year was mainly attributable to higher rental income generated by Banan Real Estate Company and its subsidiary, Al Azizah Investment and Real Estate Development Company, as well as improved occupancy rates. |
| 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 8.1% increase in net profit for the current quarter compared to the corresponding quarter of the previous year was mainly attributable to the following factors:1. A 3.8% increase in rental revenue.2. A decrease in finance costs by SAR 2.267million, representing 64%.3. A reversal of expected credit loss provisions amounting to SAR 973 thousand, compared to the recognition of an expected credit loss provision of SAR 44 thousand during the corresponding quarter of the previous year.On the other hand, net profit was adversely affected by the following factors:1. An increase in general and administrative expenses by SAR 446.5 thousand,2. A lower reversal of impairment losses on investment properties, which amounted to SAR 225.8 thousand during the current quarter, compared to SAR 2.18 million during the corresponding quarter of the previous year, resulting in a lower positive impact of this item on net profit. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The slight 1% decrease in revenue during the current quarter compared to the previous quarter was primarily attributable to the sale of an investment property located in Al Wadi District during the previous quarter. |
| 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 was mainly attributable to the following:1. A gain of SAR 1.6 million from the disposal of investment properties was recognized during the first quarter of the current year, whereas no gains from the disposal of investment properties were recognized during the current quarter.2. A decrease in rental revenue of SAR 333 thousand, resulting from the disposal of one of the investment properties.3. A loss of SAR 246 thousand arising from the fair value measurement of financial instruments through profit or loss during the current quarter, compared to a loss of SAR 12.4 thousand in the previous quarter. |
| 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 revenue during the current period compared to the corresponding period of the previous year was primarily attributable to higher rental income generated by Banan Real Estate Company and its subsidiary, Al Azizah Investment and Real Estate Development Company, driven by improved occupancy rates and stronger performance of the investment properties. |
| 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 increase in net profit during the current period compared to the corresponding period of the previous year was primarily attributable to the following:1- An increase in rental revenue by 3.8%.2- A decrease in finance costs by SAR 2.43 million.3- An increase in gains from the disposal of investment properties amounting to SAR 372 thousand.On the other hand, net profit was negatively impacted by the following factors:1- An increase in general and administrative expenses by SAR 493 thousand.2- A decrease in the reversal of impairment losses on investment properties, which amounted to SAR 451 thousand during the current period compared to SAR 2.44 million in the corresponding period of the previous year.3- A decrease in the Company’s share of profits from joint ventures by SAR 204.2 thousand compared to the corresponding period of the previous year. |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| 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 Items | Comparative figures have been reclassified to align with the current presentation. |
| Additional Information | N/A |
