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Knowledge Economic City — Earnings Release 2023
Mar 18, 2024
53433_rns_2024-03-18_998e687f-b424-4535-95e8-1002666aefa0.html
Earnings Release
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Knowledge Economic City announces its Annual Financial results for the period ended on 2023-12-31
4310 · 18/03/2024 15:38:16 · Announcement #78779 · View on Saudi Exchange
Knowledge Economic City announces its Annual Financial results for the period ended on 2023-12-31
| Element List | Current Year | Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 66,861 | 56,687 | 17.95 |
| Gross Profit (Loss) | 22,726 | 18,020 | 26.11 |
| Operational Profit (Loss) | -42,630 | -30,939 | 37.79 |
| Net profit (Loss) | -45,557 | -19,389 | 134.96 |
| Total Comprehensive Income | -56,001 | -16,651 | 236.32 |
| Total Share Holders Equity (After Deducting the Minority Equity) | 3,003,470 | 3,059,471 | -1.83 |
| Profit (Loss) per Share | -0.13 | -0.06 | |
| All figures are in (Thousands) Saudi Arabia, Riyals |
| Element List | Amount | Percentage of the capital (%) |
|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - |
| Accumulated Losses | 382,923 | 11.29 |
| All figures are in (Thousands) Saudi Arabia, Riyals |
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | During the current year, the higher sales achieved compared with the last year was mainly resulted from more sales of residential units related to one of the Company's projects. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | During the current year, the higher sales achieved compared with the last year has resulted in increased gross profit; on the other hand, the increase in operating expenses during the period has resulted in increased net loss. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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 | None |
| Additional Information | - |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.