Jamjoom Pharmaceuticals Factory Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 345.74 | 298.4 | 15.864 | 385.46 | -10.304 |
| Gross Profit (Loss) | 218.18 | 198.1 | 10.136 | 249.4 | -12.518 |
| Operational Profit (Loss) | 104.26 | 92.56 | 12.64 | 126.58 | -17.633 |
| Net profit (Loss) | 106.95 | 86.27 | 23.971 | 102.97 | 3.865 |
| Total Comprehensive Income | 106.73 | 85.48 | 24.859 | 57.17 | 86.688 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 731.2 | 599.25 | 22.019 |
| Gross Profit (Loss) | 467.59 | 397.7 | 17.573 |
| Operational Profit (Loss) | 230.84 | 186.47 | 23.794 |
| Net profit (Loss) | 209.92 | 170.67 | 22.997 |
| Total Comprehensive Income | 163.89 | 138.6 | 18.246 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,463.22 | 1,354.87 | 7.997 |
| Profit (Loss) per Share | 3 | 2.44 | |
| 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 | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue for the current quarter has increased by 15.9% as compared to the same quarter of the last year due to increase in sales volumes across key markets and therapeutic areas through implementation of the Company’s strategic plans. |
| 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 Company's net profit for the current quarter increased by 24.0% as compared to the same quarter of last year mainly due to revenue growth, improved cost management and efficiency, as well as other income. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Sales decreased by 10.3% as compared to 1Q 2024 due to expected fluctuation in quarterly sales. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Company's net profit for the current quarter increased by 3.9% as compared to the previous quarter, driven by cost efficiencies, an increase in finance income and other income, in addition to the contribution from our share of profit from the joint venture in Algeria. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue for the current period has increased by 22.0% as compared to the same period of last year, this increase is primarily driven by volumetric growth and new product launches across key markets and therapeutic areas. |
| 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 Company's net profit for the current period increased by 23.0% as compared to the same period of the last year mainly driven by revenue growth which was somewhat offset by cost of sales but was further improved through cost efficiencies in other operating expenses, and other income. |
| 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) | None |
| Reclassification of Comparison Items | Certain figures for the prior period have been reclassified to conform to the presentation in the current period. |
| Additional Information | 1.The Company’s financial position continued to be strong with zero debt.
As of 30 June 2024, the Company had a cash balance of SAR 156.3 million, which represented a decrease of 45.1% compared to the balance at December 31, 2023 mainly due to the dividend payout in June 2024. 2. In June 2024, the technical requirements for the marketing of the first product manufactured in the Jeddah Sterile Facility were completed.
Please refer to the attached Press Release for more information. |
| Attached Documents |  |
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