| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Consumer finance Portfolio of United Company for Financial Services grew by 28.4% vs. last year, which led to an increase in The Company’s revenue through the year by 19.1% vs. last year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Consumer finance portfolio of The United Company for Financial Services grew by 28.4% vs. last year. The Portfolio growth came through its shariaa compliant financing solutions, which being offered by The Company, which led to an increase in The Company’s revenue by 19.1% vs. last year. However, due to an increase of expected credit loss provisions, and increase of SG&A through the current year, The Company’s net profit grew by 4.8% through the year vs. last year, to a total of SAR 222.4m vs. SAR 212.2m for last year. |
| Statement of the type of external auditor’s report | Unmodified opinion |
| 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 | None |
| Additional Information | – |
