Saudi Fisheries Co. announces its Annual Financial results for the period ending on 2023-12-31

Saudi Fisheries Co. announces its Annual Financial results for the period ending on 2023-12-31

|Element List||Current Year||Previous Year||%Change|

|Sales/Revenue||52,208||48,816||6.95|

|Gross Profit (Loss)||-43,962||-21,264||106.74|

|Operational Profit (Loss)||-79,429||-58,639||35.45|

|Net profit (Loss)||-91,438||-63,390||44.25|

|Total Comprehensive Income||-91,008||-62,900||44.69|

|Total Share Holders Equity (After Deducting the Minority Equity)||144,793||235,801||-38.59|

|Profit (Loss) per Share||-2.29||-1.58|

|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||5,810||1.45|

|Accumulated Losses||-256,023||64|

|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||Revenue increased by 7% compared to the last year due to the increase in wholesale sales of fish and shrimp.|

|The reason of the increase (decrease) in the net profit during the current year compared to the last year is|| • due to the increase in shrimp and fish production costs at the farms

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• loss arising from fair valuation of biological assets amounts to SAR 33.8 million.

• Recognizing provision SR 22.31 million related to Inventory, Zakat, Impairment of an asset under construction

|Statement of the type of external auditor's report||Conservation|

|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)|| Qualified Opinion

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1. As of December 31, 2023, the net book value of properties, machinery, and equipment, capital work