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00:00 The company has renewed its contract with the Saudi-based Marina profit-maker.
00:04 Its profits have increased dramatically in the first nine months of 2023.
00:10 Let's take a look at the financial and operating performance of the company.
00:15 The Marina profit-maker, which operates in the financing rental sector,
00:19 has returned its profits to the third quarter of this year
00:22 at about 20% of a record of about 8 million Riyals.
00:27 In contrast, revenues have increased by 9% to 42 million Riyals.
00:32 But why did the results decline?
00:34 The expenses of the private currencies increased by about 53%
00:41 to record 12 million Riyals in the third quarter of this year.
00:48 As for the nine-month level, we see a dramatic increase in profits
00:53 from 17% to 36.4 million Riyals.
00:58 The revenues have also increased by more than 9% to 152.6 million Riyals.
01:04 This is at the level of the results.
01:06 But what about the company's financial performance
01:10 at the level of the existing requirements and property rights?
01:14 Property rights for the company have seen a clear growth
01:19 of more than 53% to 840.5 million Riyals.
01:26 At the level of the company's existing requirements,
01:30 it has seen a clear growth of more than 16% to 1.4 billion Riyals.
01:35 The company's requirements have also declined,
01:38 with the loans declining to 565 million Riyals,
01:42 with a decline of more than 13.5% at the end of the first nine months of 2023.
01:51 If we look at what the company has offered
01:54 of cash distributions to its shareholders during the past financial year,
01:58 we will find that at the end of December,
02:00 the Board of Directors recommended the distribution of cash profits
02:03 at 53% to one shareholder, which was what the General Assembly relied on.
02:08 The company distributed cash profits at 53% to one shareholder
02:12 on September 6, and at the level of the shareholder's performance in the market,
02:20 we have seen a decline of about 30% to one shareholder since the beginning of the decline in June 2023.
02:31 The company, Al Marina, has recorded a positive performance
02:38 at the level of the first nine months of 2023.