News & Announcements

ARAB SEA

19 May, 2024 09:41

Arab Sea Information Systems Company announces its interim consolidated financial results for the period ending on 31-03-2024 (three months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	9,089,827	9,318,129	-2.45	18,974,111	-52.093
Gross Profit (Loss)	100,723	2,598,715	-96.124	16,910,780	-99.404
Operational Profit (Loss)	-6,910,470	-4,662,415	48.216	8,361,234	-
Net profit (Loss)	-7,071,930	-4,897,931	44.386	7,711,652	-
Total Comprehensive Income	-7,071,930	-4,897,931	44.386	8,243,595	-
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (After Deducting the Minority Equity)	119,972,463	131,384,863	-8.686
Profit (Loss) per Share	-0.07	-0.05
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Percentage of the capital (%)	Amount
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 quarter compared to the same quarter of the last year is	The reason for the decrease in revenues for the current quarter compared to the same quarter of the previous year is due to: - Revenues for the current quarter decreased by 2.4% compared to the same quarter of the previous year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the increase in net loss for the current quarter compared to the same quarter of the previous year is due to: - Cost of revenues increased by 33.77% compared to the same quarter of the previous year.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The reason for the decrease in revenues during the current quarter compared to the previous quarter is due to: - Revenues for the current quarter decreased by 52.1% compared to the previous quarter. This is due to the impact of government projects being reflected in the revenues of the previous quarter
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The reason for the increase in net loss during the current quarter compared to the previous quarter is due to: - Cost of revenue for the current quarter increased by 225.65% compared to the previous quarter
Statement of the type of external auditor's report	Unmodified conclusion
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	-

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