| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | %Change |
| Sales/Revenue | 221.7 | 216.2 | 2.543 | 227.2 | -2.42 |
| Gross Profit (Loss) | 33.3 | 37.4 | -10.962 | 26.5 | 25.66 |
| Operational Profit (Loss) | 13.8 | 17.1 | -19.298 | 5.5 | 150.909 |
| Net profit (Loss) | 7.3 | 8.3 | -12.048 | -1.9 | |
| Total Comprehensive Incom | 7.3 | 8.3 | -12.048 | 1.7 | 329.411 |
All figures are in (Millions) Saudi Arabia, Riyals
| Element List | Current Period | Similar period for previous year | %Change |
| Total Shareholders Equity (after Deducting Minority Equity) | 512.3 | 515.1 | -0.543 |
| Profit (Loss) per Share | 0.26 | 0.29 |
All figures are in (Millions) Saudi Arabia, Riyals
| Element List | Amount | Percentage of the capital (%) |
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - |
| Accumulated Losses | - | - |
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 company's revenues increased by 2.5% during the current quarter compared to the same quarter of the previous year, primarily due to the following:
• An increase in revenues from the operations and maintenance division, resulting from the receipt and commencement of seven new projects in sub-divisions (non-medical operations, catering and supplies, and medical maintenance), which had been announced during previous periods.
• An increase in revenues from the contracting division, resulting from higher project completion rates compared to the first quarter of 2024.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is
Net profit decreased by 12% during the current quarter compared to the net profit in the same quarter of the previous year due to the increase in operating costs such as salaries and wages of medical staff, the increase in the cost of labor, subcontractors and food materials compared to the first quarter of 2024.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is
The company's revenues decreased by 2.4% during the current quarter compared to the previous quarter, mainly due to lower revenues in the contracting, medical operations and maintenance, and medical operations sub-divisions, due to the completion of a number of projects and the completion and delivery of their works by the end of the previous quarter, despite an increase in revenues in the catering sub-division due to the take over a number of new projects.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is
Net profit increased by SAR 9.2 million (477%) at the end of the current quarter compared to the previous quarter, primarily due to the following:
• Increased profit margin in the General Maintenance sector due to lower operating costs, due to lower revenues, as mentioned above, resulted from the completion of some projects at the end of the last quarter of the previous year, in addition to booking additional provisions during the previous quarter for completed projects.
• Due to cash collections from projects, the provision for expected credit losses was reduced by SAR 1.7 million during the current quarter, in compliance with International Financial Reporting Standard No. (9) for measuring expected credit losses on trade receivables and contract assets.
• Lower financing costs during the first quarter of 2025 compared to the previous quarter, due to a reduction in facility balances to repay some loans from cash projects collections, in addition to the decline in global interest rates.
Statement of the type of external auditor's report
Unmodified conclusion
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)
N/A
Reclassification of Comparison Items
N/A
Additional Information
On 25 August 2024, “Girgas Drug Store Trading Co.” (a subsidiary) signed a sale and assignment contract with “Nada Al Hayat Medical Holding Company” to sell all of the shares owned by Girgas in “Naqaa United Pharmaceutical Company”. The sale and transfer of ownership and control took place before 30 September 2024.
In compliance with International Financial Reporting Standard IFRS (5), all account related to the sold company “Naqaa” were excluded from all consolidated financial statements for the periods up to the date of disposal compared to similar periods of the previous year.
Earnings per share from discontinued operations were excluded from earnings per share from continuing operations in both years as shown in the consolidated income statement.
