- Despite the increase of sales at 21.1% due to sales increase of almost all sections, especially smartphones and related accessories, computers and video games sections, the gross profit witnessed a decrease of 3.6% due to discounts on sales prices to promote sales especially smartphones and computers, and due to the change in the sales mix towards the relatively less profitable sections.

- Decrease in other income compared to the same quarter of the previous year, which included the recognized profit resulting from the sale of the company's property in Rakah district in Al-Khobar, amounting to around 10 million Saudi riyals.

- Increase in financing cost as a result of increased borrowing."

- The second quarter usually achieves the lowest quarterly sales during the year. Sales for most departments declined compared to the previous quarter of the current year, which achieved record quarterly sales, supported by smartphones sales. The gross profit decreased by a greater percentage than the decrease in sales, as the gross profit decreased by 26% due to discounts on sale prices to promote sales, especially smart phones and computers.

- Decrease in other income.

- Increase in financing cost as a result of increased borrowing."

"Reasons for decrease

- Despite the increase in sales by 19.9% ​​as a result of sales increase of most sections, especially smartphones and related accessories, computers and video games, the gross profit witnessed a decrease of 1.8% due to discounts on sales prices to promote sales, especially smartphones and computers, and due to the change in the sales mix towards the relatively less profitable sections.

- Increase in selling and marketing expenses to promote sales.

- Decrease in other income.

- Increase in financing cost as a result of increased borrowing."

"The current quarter did not witness a significant decrease in the comprehensive income compared to the net profit, but the current period and the similar period of the last year showed a decrease in the comprehensive income compared to the net profit mainly due to currency differences losses in the first quarter of the current year and last year related to the subsidiary company in Egypt as a result of the Egyptian authorities’ decision to devalue the Egyptian pound against foreign currencies, including the Saudi riyal, which started in March 2022.

Earnings per share for all presented periods are calculated based on the number of shares of the company amounting to 1,200 million shares after splitting each share into ten shares as decided by the extraordinary general assembly held on May 30, 2023.

Two new showrooms were opened during this period, on 24/2/2023 in the University City area in the Emirate of Sharjah in the United Arab Emirates, and on 10/4/2023 in the Avenues Mall in Al-Rai area in Kuwait. The showroom located in Al-Rashid Mall in Al-Khobar was closed as of 24/2/2023, as it was replaced by another showroom in the same complex with a larger area which was opened on 16/4/2023."