|Similar Quarter For Previous Year
|Gross Profit (Loss)
|Operational Profit (Loss)
|Net Profit (Loss) after Zakat and Tax
|Total Comprehensive Income
|Similar Period For Previous Year
|Total Share Holders Equity (after Deducting Minority Equity)
|Profit (Loss) per Share
|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 reason for net profit for the first quarter of 2023 compared to the net profits achieved in the corresponding quarter of the previous year 2022 lies mainly behind the following:
1- Increase in gross profit due from increased turnover and improved profit margins in the subsidiary (FPC).
2- Decrease in expected credit losses provision.
3- Increase in other income arising from obtaining some governmental support and earned profits from banking deposits.
These results achieved despite of the following:
1- Increase in G&A expenses.
2- Increase in banking charges because of non- existence of some governmental initiatives that has been previously launched to minimize the impact of the coronavirus outbreak (Covid-19), particularly the initiative of deferred payment program related to postpone the due payment with no interest, however some of short loans with variable interest rates has been settled by end of 2022.
3- Lower gains of investments at fair value through profit or loss, as those investments have been liquidated during the period.
|The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is
|The reason for lower net profit for the first quarter of 2023 compared to the last quarter of 2022 lies mainly behind the following:
1- A slight decline in gross profit resulted from the variant product mix and decreased profit margin for some products for the competition purposes.
2- Increase in expected credit losses provision.
3- Re-evaluating the contingent liability against non-controlling interest acquisition during the 4th quarter of 2022.
4- Decrease in other income.
5- Increase in zakat provision.
These results achieved in spite of:
1- Sales and marketing expenses are lower based on decreased shipping costs.
2- Increase in G&A expenses resulted from provisions allocation during the 4th quarter of 2022.
3- Decrease in banking charges.
|Statement of the type of external auditor’s report
|Reclassification of Comparison Items
|Certain Comparative figures have been reclassified to be consistent with the presentation of the current period presentation, which mainly appeared in sales, cost of goods sold and the other income during the 1st quarter of 2023.