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contactus
0112881478
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E-mail
info@asharqiyah.com.sa
0112881478
info@asharqiyah.com.sa
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 85,818,590 | – | – | ||
| Gross Profit (Loss) | 2,664,704 | – | – | ||
| Operational Profit (Loss) | -17,462,442 | -6,096,588 | 186.43 | ||
| Net profit (Loss) | -4,166,261 | -185,743 | 2,143.02 | ||
| Total Comprehensive Income | -7,558,135 | 5,511,137 | – | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 358,297,467 | 365,855,602 | -2.06 | ||
| Profit (Loss) per Share | -0.14 | -0.01 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | – | – | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The reason for the presence of revenues during this year compared to the absence of revenues in the previous year is due to the commencement of business activity for the company’s subsidiaries starting in the middle of this year |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net losses this year compared to the previous year’s losses is due to the formation of a zakat provision of more than 5 million riyals, which is greater than the net profit achieved from operating activities and the results of other operations, including deposit returns and acquisition gains. |
| Statement of the type of external auditor’s report | Notice |
| 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) | Emphasis of Matter
We draw attention to Clarification No. (25) on the financial statements regarding the government grant “agricultural lands”, as on August 2, 2022 AD, the company received the decision of the Ministry of Environment, Water and Agriculture issued on June 30, 2022 AD, which included that an instrument cannot be issued in the name of the company, but It can benefit from the land until Saudi Aramco’s actual need is met. Accordingly, the company has reclassified the government grant as intangible assets (government grant) instead of classifying it as property, machinery and equipment because it obtains the right to benefit from agricultural land until the actual need for it is met. Before Saudi Aramco or in the event of release of the reservation on the land or part thereof. As of the date of the report, we have not received any developments on this matter. In addition, the administration was unable to determine the useful life of agricultural land. Our opinion has not been modified with respect to the above matters |
| Reclassification of Comparison Items | The previous year’s figures have been reclassified and/or reclassified, where necessary, for the purpose of better presentation so that the presentation of comparative figures in the financial statements is consistent with the current presentation. |
| Additional Information | During 2023, the company obtained the approval of the Capital Market Authority to increase its capital by SAR 225 million through a rights issue. The company’s management also prepared a future business plan for its core activities, in addition to preparing future cash forecasts.
During 2024, the company established a 100%-owned subsidiary operating in the food security sector. During 2024, the company acquired an existing logistics services company. The company generated operating revenues from the above subsidiaries |