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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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