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Banan Real Estate Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

04/04/2023

Element List	Current Period	Similar Period For Previous Year	%Change
Sales/Revenue	26,905,250	8,914,902	201.8
Gross Profit (Loss)	22,983,942	7,659,089	200.09
Operational Profit (Loss)	19,325,975	6,030,344	220.48
Net Profit (Loss) after Zakat and Tax	14,977,556	12,911,663	16
Total Comprehensive Income	15,027,757	19,008,358	-20.94
Total Share Holders Equity (after Deducting Minority Equity)	347,844,463	338,066,973	2.89
Profit (Loss) per Share	0.75	0.65
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Period Compared to Previous Period is Attributed to	The main reason for the increase in net profit is due to the increase in rental income for the acquisition of furnished apartments building in the Sulaymaniyah district and the Plaza 46 building in the Qurtuba district . As well as the increase in rental income in the subsidiary company as a result of the acquisition of a commercial building in the Al-Yasmeen district and the addition of additional roles in Al-Haqbani centers in Al-Takhassusi street , in addition to an increase in the percentage of the company’s ownership in the subsidiary company by 3.5%.
Statement of the type of external auditor's report	Other Matter
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	The Group's consolidated financial statements for the year ended December 31, 2021 were reviewed by another auditor, who expressed an unmodified opinion on those consolidated financial statements on Shaban 18, 1443H (corresponding to March 21, 2022). In addition, the interim condensed financial statements for the six-month period ending on June 30, 2021 were reviewed by another auditor, who expressed an unmodified examination result on those interim condensed statements on Muharram 15, 1443 AH (corresponding to August 23, 2021). Comparative figures are presented for the six-month period in the interim condensed statement of profit or loss and other comprehensive income, and for the six-month period in the first two condensed lists of changes in equity and cash flows for the non-consolidated financial statements of the parent company only without its subsidiary that was controlled by the end of 2021.
Reclassification of Comparison Items	Certain comparative figures have been reclassified to correspond to the current period presentation
Additional Information	The comparative figures for the six-month period have been presented in the initial condensed statement of profit or loss and other comprehensive income, and for the six-month period in the first two condensed lists of changes in equity and cash flows for the non-consolidated financial statements of the parent company only without its subsidiary that was controlled by the end of 2021 AD. Classification from associate to subsidiary.

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