Development Works Food Reports SAR 0.13M Net Profit in Three Months 2026
DWF 6013.SA | 0.00 |
On 2026-05-12 15:48:26 (Saudi Time), Development Works Food Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 25,374,901 | 27,252,600 | -6.889 | 21,883,831 | 15.952 |
| Gross Profit (Loss) | 1,859,897 | 3,393,619 | -45.194 | -1,726,231 | - |
| Operational Profit (Loss) | 413,425 | 1,953,565 | -78.837 | -6,177,591 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 131,270 | 1,419,120 | -90.749 | -6,939,876 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 131,270 | 1,419,120 | -90.749 | -6,989,006 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 17,182,828 | 23,689,413 | -27.466 |
| Profit (Loss) per Share | 0.04 | 0.47 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -12,433,300 | -41 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 6.89% YoY to SAR 25.37 million primarily due to reduced sales volume for some company brands affected by seasonal demand patterns and changes in consumer behavior. Net profit dropped 90.75% YoY to SAR 0.13 million, driven by the revenue decline and increased general and administrative expenses during the period.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 15.95% to SAR 25.37 million due to improved market conditions and higher sales volume from seasonal changes in consumer patterns, as Q4 2025 sales were negatively affected by winter seasonality. Net profit turned positive to SAR 0.13 million from a loss of SAR 6.94 million in the previous quarter, driven by the improved sales performance and the absence of receivables provisions that impacted Q4 2025 results.
Other Items
The external auditor issued an unmodified conclusion with no additional comments or qualifications. The company faces significant financial challenges with accumulated losses of SAR 12,433,300 representing 41% of capital as of March 31, 2026, primarily attributed to provisions for certain receivables during 2025. Due to accumulated losses exceeding 35% of capital, procedures and regulations applicable to Saudi Stock Exchange listed companies will be applied. Management anticipates improved revenues in coming periods to positively affect results and reduce the accumulated losses percentage, while working on enhancing operational efficiency and exploring new revenue opportunities. The company commits to addressing these losses, improving financial performance, and maintaining transparency with full disclosure to shareholders in accordance with applicable regulations.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95315&anCat=1&cs=6013&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.