اعلان مجموعة فتيحي القابضة عن النتائج المالية الأولية الموحدة للفترة المنتهية في 2021-09-30 ( 

A4180 FITAIHI GROUP-0.1 (-0.2 %)
1443/04/02 Sun Nov 7, 2021 15:28:54

Fitaihi Holding Group Announces its Interim Consolidated Financial Results for the Period Ending on 2021-09-30 (Nine Months)

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Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	17,329,712	55,644,594	-68.856	34,183,413	-49.303
Gross Profit (Loss)	11,900,473	50,567,306	-76.466	26,342,562	-54.824
Operational Profit (Loss)	4,378,726	44,180,872	-90.089	18,524,759	-76.362
Net Profit (Loss) after Zakat and Tax	6,924,483	38,060,860	-81.806	17,005,811	-59.281
Total Comprehensive Income	13,881,612	46,085,034	-69.878	33,881,039	-59.028
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	198,500,522	76,215,088	160.447
Gross Profit (Loss)	177,614,191	55,244,798	221.503
Operational Profit (Loss)	154,477,999	34,259,211	350.909
Net Profit (Loss) after Zakat and Tax	154,036,680	18,778,688	720.273
Total Comprehensive Income	185,574,048	7,759,681	2,291.516
Total Share Holders Equity (after Deducting Minority Equity)	525,825,364	615,297,024	-14.541
Profit (Loss) per Share	3.08	0.34
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the decline in net profit during Q3 2021, compared to Q3 2020, is mainly due to the following: 1- Achieve exceptional capital gains from the sale of part of the shares owned in an associate company amounting to SAR 31.2 million in Q3 2020, compared to not making profits from selling shares of associate companies in Q3 2021. 2- Receive distributed dividends from equity instruments at fair value in Q3 2020, amounting to SAR 7.1 million, while there were no similar dividends received in Q3 2021. 3- A decline in total sales profits, by 16.7%, reaching SAR 4 million in Q3 2021, compared to SAR 4.8 million in Q3 2020. 4- An increase of 20% in sales, distribution, administrative, and other expenses amounting to SAR 7.8 million in Q3 2021, compared to SAR 6.5 million in Q3 2020. Worth mentioning that: 1- The distributed dividends from equity instruments at fair value in the year 2021, which amounted to 15.1 million SAR, have been received in Q2 2021. 2- There was a decrease, by 83.3% in Q3 2021, in Zakat expense which reached SAR 1 million, compared to SAR 6 million in Q3 2020; due to the recording of Zakat differences related to previous years, amounting to SAR 3.9 million, in Q3 2020. 3- Exceptional capital gains amounting to 3.8 million SAR have been achieved from the sale of properties in Q3 2021. 4- There was an increase of 2.7% in the Company's share in the business results of an associate company amounting to 0.2 million SAR in Q3 2021, compared to Q3 2020. 5- Achieve profits amounting to SAR 0.3 million resulting from the (Fair Value Investment Valuation Through Profit or Loss) in Q3 2021.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	The reason for the decline in the net profit of Q3 2021, compared to the net profit in Q2 2021 (the previous quarter) is mainly due to the following: 1- Receive dividends from equity instruments at fair value amounting to SAR 15.1 million in Q2 2021, while there were no similar dividends received in Q3 2021. 2- A decline of SAR 0.3 million in profits resulting from the (Fair Value Investment Valuation Through Profit or Loss) in Q3 2021, compared to SAR 0.8 million in Q2 2021. 3- A decline in total sales profits, by 34.4%, reaching SAR 4 million in Q3 2021, compared to SAR 6.1 million in Q2 2021. This is despite the following: 1- An increase in the Company's share in the business results of associates by 76.7% in Q3 2021 reached SAR 7.6 million, compared to SAR 4.3 million in Q2 2021. 2- Achieve exceptional capital gains from selling properties amounting to SAR 3.8 million in Q3 2021. 3- There was a decrease in Zakat expense by 23% in Q3 2021 to reach SAR 1 million, compared to SAR 1.3 million in Q2 2021. 4- A decrease of 3.7% in sales, distribution, administrative, and other expenses amounting to SAR 7.8 million in Q3 2021, compared to SAR 8.1 million in Q2 2021.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason for achieving an increase in net profit in the current period of the year 2021, compared to the same period of last year, is mainly due to the following: 1- Achieve exceptional capital gains of SAR 125.7 million in the current period of the year 2021, resulting from selling the total stake of the Group in the share capital of an associate, compared to SAR 31.2 million in the same period of last year. 2- An increase of 114.1% in received distributed dividends from equity instruments at fair value amounting to SAR 15.2 million in the current period of the year 2021, compared to SAR 7.1 million in the same period of last year. 3- An increase of 234.5% in the Company's share in the business results of associates amounting to SAR 19.4 million in the current period of the year 2021, compared to SAR 5.8 million in the same period of last year. 4- An increase in total sales profits, by 45.9%, reaching SAR 16.2 million in the current period of the year 2021, compared to SAR 11.1 million in the same period of last year. 5- A decrease in the inventory's value by SAR 3.4 million was recorded in the same period of the year 2020, to reduce the obsolete stock, while there was no need to do the same in the current period of the year 2021. 6- Achieve profits amounting to SAR 1.2 million resulting from the (Fair Value Investment Valuation Through Profit or Loss) in the current period of the year 2021. 7- A decrease, by 62% in the current period of the year 2021, in Zakat expense which reached SAR 3.5 million, compared to 9.2 million SAR in the same period of last year; due to the recording of Zakat differences related to previous years, amounting to 4.7 million SAR, in the same period of last year. 8- Record losses from discontinued operations amounting to SAR 6.5 million in the same period of last year, resulting from the Group's exit decision, by selling its stake in the share capital of the subsidiary ""Luxury Goods Trading Company Ltd."" (LGTC Ltd.). Despite the increase by 12.7% in sales, distribution, administrative, and other expenses amounting to SAR 23.9 million in the current period of the year 2021 compared to SAR 21.2 million in the same period of last year.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	The figures for the presented financial periods of 2021 have been reclassified, and then the comparative figures for the presented periods of 2020, have been reclassified too. The items of (Company's Share in Associate Companies' Business Results), (Dividends Received from Equity Instruments at Fair Value), and (Fair Value Investment Valuation Through Profit or Loss) have been added to the Revenue item, and profit from the sale of properties and equipment to the Net Profit After Zakat and Tax. Hence, they were added to the (Total Profit) during the presented financial periods.

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