Sinad Holding Co. — Earnings Release 2022

Mar 27, 2023

Sinad Holding Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

4080 · 27/03/2023 08:00:56 · Announcement #72636 · View on Saudi Exchange

Sinad Holding Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	1,769	1,711.3	3.37
Gross Profit (Loss)	553.7	439.4	26.01
Operational Profit (Loss)	120.2	22.1	443.89
Net Profit (Loss) after Zakat and Tax	10.1	-63.5	-
Total Comprehensive Income	-160.6	21.5	-
Total Share Holders Equity (after Deducting Minority Equity)	1,237.9	1,401.8	-11.69
Profit (Loss) per Share	0.08	-0.5
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The achievement of Net Profit against Net Loss during last year is due the increased Gross & Operating profits during the year versus last year. This increase has resulted primarily from the increased Investment Income, increased other operating income and reduction of Zakat & Income Tax.
Statement of the type of external auditor's report	Emphasis of matter
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	We draw attention to note number (20) under the attached consolidated financial statements, which illustrates the status of the 2 law suits against the seller and broker of the purchased north Riyadh land, Al-Khair district. Our opinion regarding that matter has not been changed.
Reclassification of Comparison Items	Not Applicable
Additional Information	-As of December 31st 2022, the accumulated losses reached Sar 27.5 Million, representing 2% of the company’s capital of Sar 1,263.9 Million.

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