Molan Steel Co. announces its Interim Financial results for the period ending on 2024-06-30 ( Six Months )

27 August 2024 09:06 AM

MOLAN 9553 2.22% 1.84 0.04

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	39,815,827	43,932,798	-9.371
Net profit (Loss)	-2,495,869	-3,159,800	-21.011
Total Shareholders Equity (after Deducting Minority Equity)	27,585,599	30,081,468	-8.297
Profit (Loss) per Share	-0.09	-0.12
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	-	-
Accumulated Losses	3,716,318	13.97
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 main reason for the decrease in sales by SAR 4,116,971 and 9.371%, is a decrease in the selling price of products by 7.5%, although the reduction in quantities was only 2% which is due to the coincidence of the current half with the Eid Al-Fitr and Eid Al-Adha holidays.
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 main reason for the decrease in net losses by SAR 663,931 and 21%, is due to not having provisions related to inventory and customers because of the efficient operating cycle for the inventory and customers.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	None
Additional Information	None

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