Mufeed Co. Announces Its Interim Financial Results for the Period Ending on 2025-06-30 (Six Months)
Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
Sales/Revenue | 78,080 | 76,618 | 1.908 | ||
Net profit (Loss) | 16,321 | 18,273 | -10.682 | ||
Total Shareholders Equity (after Deducting Minority Equity) | 146,231 | 129,910 | 12.563 | ||
Profit (Loss) per Share | 2.74 | 3.05 | |||
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 | - | - | |
All figures are in (Thousands) Saudi Arabia, Riyals | |||
Element List | Explanation |
|---|---|
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The company's revenues increased by 2% to SAR 78.1 million for the current period ended 30 June 2025 compared to SAR 76.6 million for the same period last year, driven by the continued growth in revenues from event and exhibition organization and exhibition design and construction. Event and exhibition revenues increased positively by 16% compared to the same period last year, mainly due to the growth in the customer base and the success of many events and exhibitions that were implemented in the regions of the Kingdom of Saudi Arabia. Exhibition design and construction revenues recorded a strong growth of 85% compared to the same period of the previous year, mainly due to the increase in exhibition design and construction projects implemented during the current period. |
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit for the period witnessed a decrease of 11% compared to the same period of the previous year due to a substantial decrease in exceptional and non-recurring profits "Other Income" as a result of recording gains of cases filed against third parties in the same period of the previous year by SAR 3.5 million, in addition to the increase in administrative and general expenses during the period ended June 30, 2025, however, the operating performance during the current period showed continuous growth due to an increase in revenues and total profit. As a result of the increase in revenues, the total profit recorded a growth of 9% compared to the same period of the previous year to reach SAR 31.6 million for the current period ended 30 June 2025. Profit from operations grew by 3% in the current period to SAR 16.9 million compared to SAR 16.5 million for the same period in 2024 due to an increase in gross profit during the current period. Financing expenses for the current period ended 30 June 2025 decreased to SAR 578 thousand compared to SAR 1.5 million for the same period in 2024, due to lower loans during the current period |
Statement of the type of external auditor's report | Unmodified conclusion |
Reclassification of Comparison Items | N/A |