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AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC)
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
FOR THE PERIOD ENDED JUNE 30, 2023
(All amounts are in Kuwaiti Dinar)

For the three months ended For the six months ended
June 30, June 30,
2023 2022 2023 2022
Note (Audited) (Restated) (Audited) (Restated)
Continuing operations:
Revenue:
Revenue from sale of properties held for trading 19 169,374 571,229 305,813 571,229
Rental income 19 2,989,289 2,541,723 5,981,276 5,030,156
Medical services income 19 527,816 301,997 945,478 1,163,527
Net management fees and commission income 2,633 64,179 211,949 136,063
Total Revenue 3,689,112 3,479,128 7,444,516 6,900,975

Cost of revenue:
Cost of sale of properties held for trading 6 (145,578) (469,284) (279,268) (469,284)
Cost of rental (491,516) (441,225) (949,556) (874,908)
Cost of medical services (491,635) (293,240) (925,409) (932,106)
Total costs (1,128,729) (1,203,749) (2,154,233) (2,276,298)

Gross profit 2,560,383 2,275,379 5,290,283 4,624,677

Reversal of impairment loss on properties held for
trading 6 28,149 - 28,149 -
Share of results from an associate 3,851 10,374 4,926 10,374
Gain on sale of investment properties 589,089 - 665,455 -
Change in fair value of investment properties 9 (1,808,833) - (1,808,833) -
Selling and marketing expenses (87,461) (41,011) (131,112) (72,181)
General and administrative expenses (869,038) (789,491) (1,724,658) (1,585,158)
Depreciation (51,500) (43,000) (106,991) (108,891)
Operating profit 364,640 1,412,251 2,21 7,219 2,868,821

Gain on disposal of a subsidiary - 464,435 - 464,435
Net (loss) profit on financial assets 20 (1,240) 24,555 (16,783) 7,741
Net other expenses 21 (794,148) (88,726) (894,596) (214,179)
Amortization of finance costs related to lease liabilities 12 (328,374) (233,165) (659,914) (375,352)
Finance costs (1,524,507) (1,136,093) (2,946,679) (2,175,182)
(Loss) profit for the period from continuing operations (2,283,629) 443,257 (2,300,753) 576,284
Discontinued operations:
(Loss) profit for the period from discontinued operations 7 (22,739,254) 17,727 (22,538,120) 194,142
(Loss) profit for the period (25,022,883) 460,984 (24,838,873) 770,426

Attributable to:
Shareholders of the Parent Company (25,019,572) 210,432 (24,824,756) 414,681
Non-controlling interests (3,311) 250,552 (14,117) 355,745
(Loss) profit for the period (25,022,883) 460,984 (24,838,873) 770,426

(Loss) earnings per share attributable to shareholders
of the Parent Company:
Continuing operations:
Basic and diluted (loss) earnings per share -
attributable to shareholders of the Parent Company
– Fils 22 (3.71) 0.32 (3.66) 0.40
Discontinued operations:
Basic and diluted (loss) earnings per share -
attributable to shareholders of the Parent Company
from discontinued operations – Fils 22 (36.73) 0.01 (36.13) 0.26

Total basic and diluted (loss) earnings per share -
attributable to shareholders of the Parent Company
– Fils 22 (40.44) 0.33 (39.79) 0.66

The accompanying notes (1) to (31) form an integral part of the consolidated financial statements.

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