| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | TAS’HEEL Company reported growth in consumer finance revenues by 28.4%, reaching SAR 192.4 million compared to SAR 149.8 million in the same quarter last year. This growth was mainly driven by a higher number of customers obtaining financing, resulting in a 30% growth in the financing portfolio. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Tas’heel’s net profit increased by 27.7% during the current quarter compared to the same quarter last year, supported by a 28.4% growth in revenues. This revenue growth positively reflected on gross profit (net income from Shariah-compliant financing contracts), which grew by 28.9%.It is worth noting that the growth in gross profit was not fully reflected on the growth in net profit, due to higher operating expenses and an increase in expected credit loss provisions. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The financing portfolio of TAS’HEEL Company grew by 7% compared to the previous quarter, which led to a 10.2% increase in Second-quarter revenues versus the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Tas’heel’s net profit increased by 3.4% during the current quarter compared to the previous quarter, supported by a 10.2% growth in revenues. This revenue growth positively reflected on gross profit (net income from Shariah-compliant financing contracts), which rose by 9.6%.It is worth noting that the growth in gross profit was not fully reflected on the growth in net profit , due to higher operating expenses and an increase in expected credit loss provisions. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Tas’heel’s financing portfolio grew by 30% compared to the same period last year, leading to a 26.9% increase in revenues for the current period versus the same period of the previous year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Tas’heel’s net profit increased by 18.6% compared to the same period last year, supported by a 26.9% growth in revenues. This revenue growth positively reflected on gross profit (net income from Shariah-compliant financing contracts), which recorded a 27.9% increase.It is worth noting that the growth in net profit did not fully reflect the growth in gross profit, due to higher operating expenses and increased expected credit loss provisions. |
| 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 | Some comparative figures have been reclassified to be consistent with the presentation of the current period |
| Additional Information | – |
