Tam Development Co. announces its Interim Financial results for the period ending on 2024-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 120,700,929 | 62,810,514 | 92.166 | ||
| Net profit (Loss) | 37,747,746 | 24,434,354 | 54.486 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 117,713,550 | 76,891,155 | 53.091 | ||
| Profit (Loss) per Share | 3.47 | 1.45 | |||
| 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 | - | - | |
| 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 increase in revenues during the current year compared to last year is mainly due to an increase in the company's activity and sales. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | "Net profit increased by 139.9% to SAR 11,429,924 for the six months ended June 30, 2024, compared to the same period ended June 30, 2023 by SAR 4,763,913. This increase in net profit is attributed to the following:
- Increase in revenues, which grew by 92.2% to SAR 120,700,929 for the six months ended June 30, 2024, compared to SAR 62,810,514 for the same period ended June 30, 2023. - Increase in gross profit by 54.5% to SAR 37,747,746 for the six months ended June 30, 2024, compared to SAR 24,434,354 for the same period ended June 30, 2023. - Increase in operating profit by 85.8% to SAR SAR 12,428,242 for the six months ended June 30, 2024, compared to SAR 6,690,364 for the same period ended June 30, 2023." |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to align with the presentation of the current period, and the reclassification has no impact on the total shareholders' equity or profit for the period. |
| Additional Information | Basic earnings per share is calculated based on the profit distributable to shareholders for ordinary shares and using the weighted average number of ordinary shares outstanding on the date of the financial statements. |
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