Group Five Pipe Saudi Co. announces its Interim Financial results for the period ending on 2024-06-30 ( Six Months )

11 August 2024 08:29 AM

GROUP FIVE 9523 11.07% 31.10 3.10

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	375,928,309	311,484,245	20.689
Net profit (Loss)	9,206,578	9,679,852	-4.889
Total Shareholders Equity (after Deducting Minority Equity)	333,281,213	322,953,740	3.197
Profit (Loss) per Share	0.33	0.35
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 period compared to the same period of the last year is	The company recorded revenues of SAR 376 million in the first half of the fiscal year 2024, compared to SAR 311 million in the same period of fiscal year 2023, marking a 20.7% increase. This growth is attributed to higher sales volumes and average selling prices per ton.
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 recorded a net profit of SAR 9.2 million in the first half of fiscal year 2024, compared to a net profit of SAR 9.6 million in the same period of fiscal year 2023, reflecting a 4.9% decrease due to higher financial fees.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	The reclassification in Operational Profit (Loss) was due to banking charges, and they were moved from finance charges to be part of general and administrative expenses.

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