| 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 reason for the increase in revenues during the current quarter compared to the same quarter of the previous year is due to the increase in the company’s share of profits from associate companies during the current quarter (Profit from the contribution in the Arab Tank Company). |
| 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 the increase in net losses in the current quarter compared to the same quarter of the previous year is attributed to a rise in operating expenses, In addition to recording realized losses from the sale of shares, amounting to 2,418,710 SR during the current quarter, and recording an unrealized losses from the revaluation of shares, which reached 16,585,890 SR during the current quarter. This revaluation was assessed at fair value through other comprehensive income in the same quarter of the previous year, but it is now evaluated at fair value through the profit and loss statement in the current quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is |
The reason for the increase in revenues in the current quarter compared to the previous quarter is attributed to an increase in distributed dividends from the Saudi Industrial Investment Group amounting to 7,597,240 SR during the current quarter, as well as an increase in the company’s share of profits from associated companies (profit from the investment in Arab Tanks Company) by 1,866,810 SR during the current quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is |
The reason for the increase in net losses in the current quarter compared to the previous quarter is attributed to a rise in operating expenses, as well as an recording a realized losses from the sale of shares amounting to 2,418,710 SR. and recording an unrealized losses from the revaluation of shares, which reached 16,585,890 SR during the current quarter. This revaluation was assessed at fair value through other comprehensive income in the previous quarter, but is now evaluated at fair value through the profit and loss statement in the current 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 reason for the increase in revenues during the current period compared to the same period of the previous year is attributed to an increase in the company’s share of profits from associated companies during the current period (profit from the investment in Arab Tanks Company) |
| 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 reason for the increase in net losses in the current period compared to the same period of the previous year is attributed to a rise in operating expenses during the current period. This includes recognizing realized and unrealized losses from the sale and revaluation of shares during the current period, which were assessed at fair value through the statement of comprehensive income in the same period of the previous year, but are now evaluated at fair value through the profit and loss statement in the current period. |
| Statement of the type of external auditor’s report |
Other Matter |
| 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) |
The financial statements for the year ended December 31, 2023, and the condensed consolidated interim financial information for the three and nine-month periods ended September 30, 2023, were reviewed by another auditor, who expressed an unmodified opinion on those consolidated financial statements on March 17, 2023, and an unmodified conclusion on that information on November 5, 2023, respectively |
| Reclassification of Comparison Items |
None |
| Additional Information |
– |
