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Banan Real Estate Co. announces its Annual Financial Results for the Period Ending on 2021-12-31


Element List Current Year Previous Year %Change
Sales/Revenue 18,901,610 12,489,227 51.343
Gross Profit (Loss) 16,307,445 10,795,932 51.051
Operational Profit (Loss) 11,929,747 8,037,710 48.422
Net Profit (Loss) after Zakat and Tax 23,614,165 16,497,917 43.134
Total Comprehensive Income 23,692,669 23,596,607 0.407
Total Share Holders Equity (after Deducting Minority Equity) 338,835,490 319,058,615 6.198
Profit (Loss) per Share 1.18 1.07
All figures are in (Actual) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The main reason for the increase in net profit is due to the increase in rental income by 51%, mainly due to the acquisition of a building in Al-Malqa district and also the increase in the revenues of the fully rented Voyage Hotel.  The increase in net profit is also due to the increase in the profits of the subsidiary company, Al-Aziza Company for Investment and Real Estate Development, by 107%.
Statement of the type of external auditor's report Emphasis of matter
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion 1 - What is detailed in Notes 1 and 37 of the notes complementing the consolidated financial statements, where - The comparative figures for the non-consolidated financial statements as on December 31, 2020, have been presented, as they include the financial position of the parent company only, the results of its operations and its cash flows, without its subsidiary company controlling it at the end of it. 2021 AD, and our opinion has not been modified in this matter.  2 - What is mentioned in Note No. 7 supplementary to the consolidated financial statements, where the investment properties include real estate in the name of Some of the shareholders of the subsidiary (Non-Controlling Equity), which amounted to, as of December 31, its book value 2021AD An amount of 26.9 million Saudi riyals, as well as its fair value at that date 28.9 million Saudi riyals, and current Transfer of ownership in the name of the subsidiary, and our opinion has not been modified in respect of this matter
Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to the current period.