ELEMENT LIST	CURRENT YEAR	PREVIOUS YEAR	%CHANGE
Sales/Revenue	9,088.3	9,305.8	-2.337
Gross Profit (Loss)	1,229.3	1,328.6	-7.474
Operational Profit (Loss)	1,061.4	1,100.9	-3.587
Net Profit (Loss) after Zakat and Tax	991.9	1,003	-1.106
Total Comprehensive Income	991.8	1,004.1	-1.224
Total Share Holders Equity (after Deducting Minority Equity)	1,769	1,725.2	2.538
Profit (Loss) per Share	8.27	8.36

 

All figures are in (Millions) Saudi Arabia, Riyals

 

Although gross profit decreased 7.5%, the net income decreased only 1.1% due to:

- increase in other income which included (among other factors) a capital gain of 38 million Riyals on disposal of a parecl of land.

- decrease in general and administrative expenses, which included in the prior year voluntary contributions amounting to 25 million Riyals to support government initiatives.

- decrease in finance cost.

- decrease in zakat expense.

ELEMENT LIST	EXPLANATION
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Reasons for decrease: - decrease in sales of certain sections specially the computers, computer supplies, and video games being impacted by the lack of supply. Despite the sales decrease of only 2.3%, the gross profit dropped 7.5% due to the fact that such sales were generated by a greater number of showrooms compared to the prior year meaning that the total showrooms operating cost increased while sales decreased 2.3%.
Statement of the type of external auditor's report	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	These estimated financial results for the year ended December 31, 2021 are prepared by the management of the Company and have not yet been audited by the external auditor.
Reclassification of Comparison Items	None.
Additional Information	Six showrooms were opened during the year on 7/3/2021, 11/4/2021, 9/5/2021, 8/7/2021, 8/12/2021 and 22/12/2021 while two showrooms were closed, one in Jeddah on 1/2/2021 of which a replacement showroom was opened end of the prior year, and another showroom closed in Abu Dhabi on 31/12/2021.