Latest News
Ariva Digital’s ‘Arivaman’ NFT Series Now Available Thanks to Binance NFT
Kiel, Germany–(Newsfile Corp. – January 26, 2022) – The Ariva Digital team has recently produced an NFT series starring ‘Arivaman‘, the main character of Ariva Wonderland. Arivaman shall travel to over 24 different countries, including Vietnam, Philippines, Pakistani, Peru, UAE, Egypt, Switzerland, Turkey, Germany, Estonia, Ukraine, France, Italy, Portugal, Russia, USA, UK, Indonesia, Brazil, Korea, Japan, India, China Old and China Modern.
The team is also excited to announce that there are nine different space-themed NFTs, namely ‘Moon’, ‘Earth’, ‘Mercury’, ‘Venus’, ‘Saturn’, ‘Uranus’, ‘Mars’, ‘Neptune’, and ‘Sun’. Additionally, there is also ‘Back To The Wonderland‘ along with 2 different Arivaman designs.
In a nutshell, the concept of Arivaman is that a character had to be created which could accurately represent each aspect of our society, such as gender (the character itself is genderless), music, animals, and of course, travelling. Arivaman shall hence go on different journeys in a new, unique and exciting adventure, and the team hopes that this innovative effort will also help its Ariva Wonderland project, which has since garnered a lot of attention.
The Arivaman NFT series has now officially been launched. Visit Binance NFT for more information and for additional information, be sure to follow the official website and social media channels like Facebook, Twitter and Telegram.
Ariva Digital’s ‘Arivaman’ NFT Series Now Available Thanks to Binance NFT
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About Ariva
Ariva is an innovative blockchain platform which intends to solve the inefficiencies of the tourism industry by providing a next-generation blockchain-based ecosystem. It essentially wishes to influence the tourism sector by combining cutting-edge goods, services and products into its ecosystem.
This is divided into many important categories, according to the official whitepaper, including Ariva.World, Ariva.Finance, Ariva.Club, and finally the Ariva Metaverse. These are all interconnected too, allowing for improved compatibility and therefore providing tourists with a unique experience facilitated by the smart usage of blockchain technologies.
Ariva Wonderland, a new metaverse initiative by Ariva, would provide users with the opportunity to enjoy a fully next-generation and practically limitless tourism experience, allowing them to virtually travel to any place desired. Moreover, the Ariva metaverse project’s purpose is to merge the themes of VR and travelling via the crypto sector to offer a second life suitable for an expanding tourism industry. Due to this, users will be able to enjoy a new age of virtual tourism loaded with all kinds of unlimited future travel experiences. To that end, land sales shall start near the end of this month, and the project had also been listed on Liquid Exchange not too long ago with the ARV/USDT pair and gained a blue tick on BscScan.
Media Information:
Contact Person: Hans S.
Address: Kiel, Germany
Company: Ariva Co.
Email: [email protected]
Website: https://ariva.digital/
The information provided in this release is not investment advice, financial advice or trading advice. We are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article. All readers are encouraged to do their own research.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111773
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Al Hassan Ghazi Ibrahim Shaker Co. announces a strong start to FY24, reporting a 12.09% YoY increase in net profit to reach SAR 32.25 million in Q1-FY24
RIYADH, Saudi Arabia, May 12, 2024 /PRNewswire/ — Al Hassan Ghazi Ibrahim Shaker Co. (“Shaker”, the “Group” or the “Company”), Saudi Arabia’s leading manufacturer, importer, and distributor of Air Conditioners and Home Appliances, has announced its financial results for the first quarter ended 31 March 2024, highlighting a strong start to the year as the Company continues its growth trajectory.
Financial Highlights:
- Revenue of SAR 413.24 million, up 19.24% year-on-year (YoY), driven by higher sales in the HVAC solutions segment and balanced growth across the company’s brand portfolio
- Gross profit of SAR 97.77 million, up 12.24% YoY, in line with higher revenues and a favorable portfolio mix.
- Operating income of SAR 31.35 million, up 9.59% YoY, primarily driven by higher revenues, and gross profit, offsetting the higher SG&A expenses in line with increased strategic marketing efforts.
- Net profit1 of SAR 32.25 million, up 12.09% YoY, driven by strong revenue growth, enhanced operational performance, and lower finance costs.
- EPS of SAR 0.67 per share, improved by 12.09% YoY.
1: Attributable to equity owners
Shaker’s strong Q1-FY24 performance reinforces the continued strength of its strategic initiatives driven by market differentiation and a robust growth strategy. The company’s focus on strengthening its core business segments, brand portfolio diversification, and operational efficiency has translated into rising demand for its high-quality products and services, solidifying its market leadership in the HVAC and Home Appliances segment.
Demonstrating its commitment to achieving sustainable growth while strengthening its financial health, Shaker achieved a significant 24.08% reduction in net debt. This strategic deleveraging along with optimizing the usage of short-term loans and Letter of Credits (LC) has resulted in a decrease in finance costs, positively impacting net profit. Additionally, further improvements in inventory management and working capital resulted in strong cash generation from operations, reaching SAR 30.98 million.
In February 2024, Shaker signed a landmark Memorandum of Understanding (MoU) with LG Electronics and the Ministry of Investment of Saudi Arabia (MISA) to explore local manufacturing of AC compressors in the Kingdom. This marks a significant leap towards localizing the production of the most technologically complex component of AC units. In March 2024, Shaker also announced the localization of manufacturing of LG Electronics Multi V5 unit featuring the Variable Refrigerant Flow (VRF) technology at its LG-Shaker factory in Riyadh. This cutting-edge technology is known for its energy-saving capabilities, space-efficiency, and reliability which will primarily target large residential projects as well as commercial and hospitality projects. These strategic developments mark a new era in the Saudi market, while aligning with Saudi Arabia’s Vision 2030, and strengthening Shaker’s value chain in its HVAC segment.
Shaker continued to expand its digital footprint, as its e-commerce platform experienced strong growth driven by ongoing efforts to improve user experience and broaden online offerings. Additionally, the upcoming transition to SAP’s S/4HANA ERP system, on track for full roll-out by Q3-FY24, will further optimize operational efficiency and e-commerce capabilities.
The unveiling of a new growth strategy is expected by mid-2024, and will position Shaker for long-term growth.
Mohammed Ibrahim Abunayyan, Chief Executive Officer at Shaker, said:
“Shaker’s Q1-FY24 results are a strong start to the year, building on the momentum we established throughout 2023. Our focus on core business segments, brand diversification, and operational efficiency has continued to cement our market leadership. We are especially proud of achieving a strong balance across our brand portfolio, demonstrating our agility and commitment to catering to evolving customer preferences. This customer centricity is a cornerstone of our vision, and it’s reflected in our ongoing efforts to expand our digital footprint and enhance the user experience on our e-commerce platform. These factors, combined with our commitment to innovation, as exemplified by the recent MoU with LG Electronics and MISA, position Shaker for a future of industry leadership.
Looking ahead, we are excited to share our new growth strategy by mid-2024. This will guide our future direction while positioning Shaker at the forefront of innovation and sustainable growth.”
About Shaker
Shaker was founded in 1950 and was amongst the first in Saudi Arabia to introduce Air Conditioning & Home Appliances for Saudi consumers. Shaker is the importer and distributor of several leading international brands including Maytag, Ariston, Indesit, Midea, Bompani, and LG in Saudi Arabia, and the sole distributor of LG Air Conditioners in Saudi Arabia. ESCO, as a business unit of Shaker, provides Energy Solutions. Shaker has been a publicly listed company on the Saudi Exchange (Saudi Exchange) since 2010. Throughout the years, Shaker has positioned its name among the top Saudi companies, providing a range of integrated solutions in terms of Air Conditioners and Home Appliances in the Saudi market and the region. For more information, visit: http://www.shaker.com.sa/
For investor and media inquiries
Sam Ryan Siahpolo, Instinctif Partners
[email protected]
+971 58 831 8632
Joann Joseph, Instinctif Partners
[email protected]
+971 58 257 5490
Photo – https://mma.prnewswire.com/media/2410476/CEO_Shaker_Group.jpg
Latest News
Sobha Developers bring to Singapore an Exclusive Dubai Property Showcase
Lucrative offers available to invest in Real Estate & Win a Free Trip To Dubai
SINGAPORE, May 11, 2024 /PRNewswire/ — Dubai, renowned globally for its surreal skyscrapers and stunning skyline, is the epitome of luxury and innovation. The city is part of a thriving economy complete with state-of-the-art infrastructure, stable government, and the best education and healthcare facilities that attract investors seeking both capital appreciation and steady rental income. Sobha Developers have now brought to Singapore the lucrative chance to invest in Dubai’s real estate market.
UAE’s top developers, including industry giant Sobha Developers, are gearing up to host an Exclusive Dubai Property Showcase on May 11th and 12th at the iconic Marina Bay Sands, Level 4, Lotus Ballroom, 4A & 4B.
The Dubai Property Showcase is a haven for investors. From expert guidance to a diverse portfolio, there are several reasons why you should attend the event where there will be a portfolio of luxury properties, with starting prices at 300,000 SGD. At the event one can engage in personalised consultations with industry experts for tailored investment advice. Best of guidance and information about project locations, features, and amenities will be available to help investors and buyers understand the best investment opportunities in Dubai real estate. Upon making a property investment at the show, buyers will be entitled to a complimentary 2-night stay for two in Dubai.
Dubai is one of the world’s most profitable real estate markets to invest in and a tax free economy, boasting of returns exceeding 6%, backed by a robust economy and stellar infrastructure. Dubai’s strategic location and stable economy solidify its position as an investment hotspot, promising long-term growth and prosperity. Buyers can even gain access to Dubai’s prestigious Golden Visa program, offering long-term residency benefits to property investors and their families.
To become a part of this exclusive opportunity to explore Dubai’s real estate horizon, you can register on https://tinyurl.com/4836wff2 for the Exclusive Dubai Property Showcase and take the first step toward securing your financial future in one of the world’s most dynamic real estate markets.
CONTACT:
Yasmine: +6585575024
Abdullah: +971553367231, [email protected]
Photo – https://mma.prnewswire.com/media/2410348/Dubai_Property_Showcase.jpg
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