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SHL Finance Co. announces its Interim Financial Results for the Period Ending on 2024-03-31 ( Three Months )

1183
SHL
-0.26 %
1445/10/28     07/05/2024 08:26:08

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Total Income From Special Commission of Financing 85,95572,29918.88872,60218.392
Net Income From Special Commission of Financing 33,42328,78716.10422,28949.952
Net Income From Special Commission of Investment -----
Total Operations Profit (Loss) 33,42328,78716.10422,28949.952
Net Profit (Loss) before Zakat and Income Tax 5,8831,637259.376-7,021-
Net Profit/(Loss) 4,6142,44688.634-7,484-
Total Comprehensive Income 4,6112,286101.706-7,597-
Total Operating Expenses Before Provisions for Credit and Other Losses 83,93769,68020.4679,1846.002
Total Provision of Expected Credit Losses And Other Losses (Reversing Entry), Net -2,596173-903-
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Assets 4,427,3154,374,4941.207
Investments 893893-
Loans And Advances Portfolio (Financing And Investment) 4,257,3254,095,2693.957
Clients' deposits ---
Total Shareholder’s Equity (After Deducting The Minority’s Rights) 1,665,2641,711,101-2.678
Profit (Loss) per Share 0.040.02
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListAmountPercentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListExplanation
The reason of the increase (decrease) in special commission income during the current quarter compared to the same quarter of the last year is The company achieved total income from special commission of SR 86 million during current quarter compared to SR 72 million for the same quarter of the last year with an increase of 19%. The reason for the increase is due to increase in the volume of new business and increase in the overall portfolio yield.
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 company achieved net profit of SR 4.6 million during current quarter compared to SR 2.4 million for the same quarter of the last year with an increase of 89%. The reason for the increase is due to increase in total income from special commission and reversal of provision for expected credit loss due to the good performance of the financing portfolio.
The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the same quarter of the last year is provision for expected credit loss has decreased (reversal) due to good performance of the financing portfolio.
The reason of the increase (decrease) in special commission income during the current quarter compared to the previous quarter is The company achieved total income from special commission of SR 86 million during current quarter compared to SR 73 million for previous quarter with an increase of 18%. The main reason for this increase is due to the decrease on the fair value of derivative financial instrument in Q4 2023.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter is The company achieved net profit of SR 4.6 million during current quarter compared to loss of SR 7.5 million for the previous quarter. The main reason for this increase is due to the decrease on the fair value of derivative financial instrument in Q4 2023.
The reason of the increase (decrease) in the total net provision (reversing entry) of expected credit losses and other losses during the current quarter compared to the previous quarter is provision for expected credit loss has decreased (reversal) due to good performance of the financing portfolio.
Statement of the type of external auditor's report Unmodified Conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None
Reclassification of Comparison Items No comparative figures have been reclassified to conform to the current period presentation.
Additional Information The company is not engaged in any Deposit taking activities for this period. Therefore, client's deposit is not applicable.

Net income from special commission amount represents the difference between total income from special commission (Total operating income) and the finance charge amount and the direct cost in the income statement

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 15.44
Net Change -0.04 (-0.26%)
Value Traded (Sar) 119,850.8
Volume Traded 7,769
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