The company maintained its revenues at approximately 135 million SAR in the current fiscal year, experiencing a marginal decrease of 0.14% compared to the previous year.
Despite achieving an operating profit of 30.9 million SAR, there was a notable decline of 9.58% from the previous year's figure of 34.14 million SAR. This decline is attributed to an upswing in general and administrative expenses, primarily resulting from additional professional fees incurred in connection with the company's pursuit of a non-binding memorandum of understanding for an asset acquisition. However, it is important to note that this proposed acquisition was subsequently canceled during the current year.
On a positive note, the company recorded a net profit of 46.8 million SAR, reflecting a substantial increase of 52.1% compared to the previous year's figure of 30.7 million SAR. This boost in net profit is primarily attributed to the realization of non-recurring profits stemming from short-term investments made during the reporting period.
