National Investments K S C P : Financial Results 31/12/2023

National Investments Company K.S.C.P. and Subsidiaries

CONSOLIDATED STATEMENT OF INCOME

For the year ended 31 December 2023

		2023	2022
	Notes	KD 000's	KD 000's
INCOME		403
Realised gain on financial assets at fair value through profit or loss		1,700
Unrealised loss on financial assets at fair value through profit or loss		(6,051)	(4,876)
Changes in fair value of investment properties	13	44	982
Gain on sale of investment properties		-	166
Rental income	13	1,222	1,276
Dividend income	3	6,816	8,528
Management, incentive, brokerage and advisory service and other fees		9,252	10,880
Interest income		564	326
Share of results of associates and joint venture	12	1,126	523
Net gain on sale of associate		-	147
Gain on foreign exchange trading		419	279
		───────	───────
TOTAL INCOME		13,795	19,931
		───────	───────
EXPENSES		8,787
Administrative expenses	4	9,361
Finance costs		1,834	1,190
(Release) charge for impairment losses and other provisions	5	(1,316)	30
Gain on foreign currency translation		(21)	(227)
		───────	───────
TOTAL EXPENSES		9,284	10,354
		───────	───────
PROFIT FOR THE YEAR BEFORE TAXATION AND		4,511	9,577
DIRECTORS' REMUNERATION
Taxation charge	6	(19)	(303)
Directors' remuneration	20	-	(105)
		───────	───────
PROFIT FOR THE YEAR		4,492	9,169
Attributable to:		═══════	═══════
	4,139
Equity holders of the Parent Company		8,736
Non-controlling interests		353	433
		───────	───────
		4,492	9,169
BASIC AND DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO		═══════	═══════
7	5.2	11.0
THE EQUITY HOLDERS OF THE PARENT COMPANY (FILS)
		═══════	═══════

The attached notes 1 to 29 form part of the consolidated financial statements.

6

National Investments Company K.S.C.P. and Subsidiaries

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 31 December 2023

		2023	2022
	Note	KD 000's	KD 000's
Profit for the year		4,492	9,169
Other comprehensive (loss) income:		───────	───────
Items that will not be reclassified to consolidated statement of
income in subsequent periods:
Change in fair value of equity instruments at fair value through		(6,838)
other comprehensive income		8,915
Share of other comprehensive (loss) income of associates	12	(482)	365
		───────	───────
		(7,320)	9,280
Items that are or may be reclassified to the consolidated statement of		───────	───────
income in subsequent periods:		(31)
Foreign currency translation adjustments		189
		───────	───────
Other comprehensive (loss) income for the year		(7,351)	9,469
		───────	───────
Total comprehensive (loss) income for the year		(2,859)	18,638
		═══════	═══════
Attributable to:		(3,238)
Equity holders of the Parent Company		18,130
Non-controlling interest		379	508
		───────	───────
		(2,859)	18,638
		═══════	═══════

The attached notes 1 to 29 form part of the consolidated financial statements.

7

National Investments Company K.S.C.P. and Subsidiaries

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the year ended 31 December 2023

				Attributable to equity holders of the Parent Company
								Foreign
						Treasury		currency	Cumulative			Non-
	Share	Share	Statutory	Voluntary	Treasury	shares	Other	translation	changes in	Retained		controlling
	capital	premium	reserve	reserve	Shares	reserve	reserve	reserve	fair value	earnings	Sub-total	interests	Total
	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's	KD 000's
As at 1 January 2023	79,786	49,593	11,199	12,508	(235)	520	486	557	33,462	10,939	198,815	18,174	216,989
Profit for the year	-	-	-	-	-	-	-	-	-	4,139	4,139	353	4,492
Other comprehensive (loss) income
for the year	-	-	-	-	-	-	-	(58)	(7,319)	-	(7,377)	26	(7,351)
Total comprehensive (loss) income	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────
for the year	-	-	-	-	-	-	-	(58)	(7,319)	4,139	(3,238)	379	(2,859)
Transfer of gain on disposal of
equity investments at fair value
through other comprehensive	-	-		-	-	-	-	-			-	-	-
income to retained earnings	-	(143)	143
Transfer to statutory reserve (Note	-	-		-	-	-	-	-	-		-	-	-
19c)			416	(416)
Dividend (Note 19e)	-	-	-	(11,378)	-	-	-	-	-	(10,939)	(22,317)		(22,317)
Dividends paid to non-controlling	-	-	-	-	-	-	-	-	-	-	-
interests	(332)	(332)
Movement in non-controlling	-	-	-	-	-	-	-	-	-	-	-
interests	(183)	(183)
	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────	──────
As at 31 December 2023	79,786	49,593	11,615	1,130	(235)	520	486	499	26,000	3,866	173,260	18,038	191,298
	══════	══════	══════	══════	══════	══════	══════	══════	══════	══════	══════	══════	══════

The attached notes 1 to 29 form part of the consolidated financial statements.

9