Lazurde Company for Jewelry announces its Annual Financial results for the period ending on 2023-12-31

Lazurde Company for Jewelry announces its Annual Financial results for the period ending on 2023-12-31

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

|Sales/Revenue||1,917||1,999.6||-4.13|

|Gross Profit (Loss)||299.9||327||-8.29|

|Operational Profit (Loss)||83.1||85.6||-2.92|

|Net profit (Loss)||30.8||34.2||-9.94|

|Total Comprehensive Income||-10.8||-49||-77.96|

|Total Share Holders Equity (After Deducting the Minority Equity)||360.5||389.5||-7.45|

|Profit (Loss) per Share||0.54||0.59|

|All figures are in (Millions) Saudi Arabia, Riyals|

|Element List||Amount||Percentage of the capital (%)|

|Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value||-||-|

|Accumulated Losses||-||-|

|All figures are in (Millions) 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|| In 2023, L’azurde has continued to deliver solid and steady performance since the implementation of its transformation initiatives in 2021/2022. This was reflected in achieving a net profit of SAR 30.8 million in 2023.

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The following factors mainly explain the changes in group revenues this year:

1. Group total revenues, including gold metal value, were SAR 1,917.0 million in 2023, a decrease of 4.1% compared to SAR 1,999.6 million in the last year. It is worth noting that the Group does not make profits or losses from the value of the sold gold as a metal.

2. Group operating revenues, which better represent revenues of the Group after excluding gold metal value, amounted to SAR 471.6 million in 2023, a decrease of 9.1% compared to SAR 518.7 million in the last