Group Five Pipe Saudi Co. announces its Annual Financial results for the period ending on 2023-12-31
- Date: 20-Mar-2024
- Source: Mubasher
- Sector:Financial Markets
- Country:Saudi Arabia
Group Five Pipe Saudi Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List
|| Explanation
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| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year
|| The company recorded revenues of SAR 455 million during the fiscal year 2023, compared to revenues of SAR 230 million during the fiscal year 2022, registering an increase of 97.4%. This increase is attributed to the rise in sales volume and the average selling price per ton.
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| The reason of the increase (decrease) in the net profit during the current year compared to the last year is
|| The company achieved a net profit of SAR 9.37 million during the fiscal year 2023, compared to a net loss of SAR 24.2 million during the fiscal year 2022. This is primarily due to sales totaling SAR 455 million during the fiscal year 2023.
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| Statement of the type of external auditor's report
|| Unmodified opinion
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| 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)
|| Not applicable
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| Reclassification of Comparison Items
|| Not applicable
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| Additional Information
|| -
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